Is Paxos a stable coin?

Where Can You Buy Pax Dollar (USDP)?

The Novi wallet uses the heavily regulated firm Paxos’ Pax Dollar (USDP), the seventh-largest stablecoin , with a market cap of about $950 million. The two largest stablecoins, tether and USD coin, have market caps of $76 billion and $42 billion respectively.

The Paxos Standard Token (PAX) is a stablecoin running on Ethereum . For stablecoins like PAX, the company behind the protocol is responsible for holding reserves that fully back each token. The company behind PAX, Paxos Trust Company, claims to hold reserves that fully back each PAX.

What digital assets does Paxos Crypto Brokerage support? We support Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Polygon (MATIC), Litecoin (LTC), Chainlink (LINK), Uniswap (UNI), Aave (AAVE), PAX Gold (PAXG) and Pax Dollar (USDP).