What is Pax in crypto?

You can buy Paxos Standard directly on Ledger Live from our partner Coinify . You will need to create a Paxos Standard account on Ledger Live, to connect your Ledger hardware wallet and to verify your identity.

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.

Paxos, the company behind the Paxos Standard stablecoin (PAX), has announced that it is changing the name of its crypto asset . Paxos Standard is now Pax Dollar, and you’ll soon be able to identify it on your favorite cryptocurrency exchange, wallet or explorer under the USDP ticker.

Paxos Standard tokens will be fully redeemable to USD through the Paxos platform. Tether,USDT is a cryptocurrency asset issued on the Bitcoin blockchain via the Omni Layer Protocol . Each USDT unit is backed by a U.S Dollar held in the reserves of the Tether Limited and can be redeemed through the Tether Platform.

USDP is the native cryptocurrency of Paxos , a stablecoin that uses the Ethereum blockchain and is issued by the Paxos Trust Company. Every Paxos dollar (USDP) token is pegged to the U.S. dollar.