Pax Dollar USDP

Solana · Fiat-backed Stablecoin · Solana Ecosystem · Stablecoins · USD Stablecoin

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USDP is a USD-pegged stablecoin issued by Paxos Trust Company. It is used for payments, trading, and as collateral in DeFi applications across multiple blockchains. The stablecoin operates under strict regulatory oversight by the New York State Department of Financial Services, with customer assets held in segregated, bankruptcy remote accounts that would not be used to satisfy Paxos' debts in the event of insolvency.