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<h2 dir="ltr">How Pax Dollar (USDP) Works</h2>
Paxos Standard is a stablecoin with the advantage of transacting with blockchain-based assets while lowering price risks. The Paxos Standard tokens are <a href="https://notum.ai/glossary/erc%20-%2020%20token">ERC-20</a> tokens on the Ethereum blockchain and collateralized 1:1 by USD held in Paxos-owned US bank accounts. This stablecoin is also approved by Wall Street regulators, alongside <a href="https://coinmarketcap.com/currencies/gemini-dollar/">GUSD</a> and <a href="https://notum.ai/buy/binance-usd">BUSD</a>.
Pax Dollar (USDP) was created to empower everyone and anywhere to send and receive U.S. dollar-based assets. The fees for buying, selling, and trading Paxos are far less.&nbsp;
You can instantly transfer Pax Dollar assets over borders with absolutely no discriminatory requirements. Besides, Paxos provides a stable, decentralized value asset with minimal risk.
For exchanging USD for Pax Dollars (USDP) for both transactional or investment purposes, you need to deposit USD into a Paxos account. Then Paxos will use their <a href="https://learn.bybit.com/blockchain/what-are-smart-contracts-in-blockchain-how-do-they-work/">smart contract</a> to generate the USDP equivalent of your deposit amount. In turn, the minted USDP will be transferred and held in your account.
After converting USDP to USD, the PAX coins are burned and removed from circulation.
<h2 dir="ltr">&nbsp;</h2>
<h2 dir="ltr">Popular Crypto Assets</h2>
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<h2 class="Default">About Pax Dollar (USDP)</h2>
<a href="https://paxos.com/usdp/">Pax Dollar</a>, formerly known as Paxos Standard, is a <a href="https://notum.ai/glossary/stablecoin">stablecoin</a> pegged by the dollar and identified by the ticker USDP. As it transitioned from PAX to USDP, it remained unchanged. Just like other <a href="https://notum.ai/glossary/stablecoin">stablecoins</a>, <a href="https://coinmarketcap.com/currencies/paxos-standard/">USDP</a> was created with the primary goal of securing crypto holders against volatility. Thanks to its peg to the US dollar, <a href="https://coinmarketcap.com/currencies/paxos-standard/">USDP</a> has a stable and predictable value, which contrasts with the fluctuations experienced by cryptos like <a href="https://coinmarketcap.com/currencies/bitcoin/">Bitcoin</a> or <a href="https://coinmarketcap.com/currencies/ethereum/">Ethereum</a>. This stability offers numerous benefits, especially when it comes to cross-border transactions.
Thus, Pax Dollar (<a href="https://coinmarketcap.com/currencies/paxos-standard/">USDP</a>) stands as a robust and reliable financial instrument, offering stability, convenience, and autonomy in the world of digital assets. By providing security instead of crypto volatility, <a href="https://coinmarketcap.com/currencies/paxos-standard/">USDP</a> empowers users to transact with confidence and ease. <a href="https://coinmarketcap.com/currencies/paxos-standard/">USDP</a> has a total supply of 549,583,263 USDP. The market capitalization of USDP is currently around $549,5 million.
<h2 class="Default">USDP Use Cases</h2>
The versatility of <a href="https://coinmarketcap.com/currencies/paxos-standard/">Pax Dollar</a> opens up plenty use cases, such as:
<ul>
<li class="Default">Decreasing Crypto Asset Volatility. One of the primary use cases of <a href="https://coinmarketcap.com/currencies/paxos-standard/">Pax Dollar</a> is its ability to protect holders from the volatility of cryptos like <a href="https://coinmarketcap.com/currencies/bitcoin/">Bitcoin</a> and <a href="https://coinmarketcap.com/currencies/ethereum/">Ethereum</a>. By pegging its value to the US dollar, <a href="https://coinmarketcap.com/currencies/paxos-standard/">USDP</a> provides a stable environment for crypto usage.</li>
<li class="Default">Cross-Border Transactions. <a href="https://coinmarketcap.com/currencies/paxos-standard/">USDP</a> plays an important role in optimizing cross-border transactions. Its steady value ensures that both the sender and the recipient maintain a consistent understanding of the transaction's worth, eliminating uncertainties associated with currency conversions and fluctuating exchange rates.</li>
<li class="Default">Reliable Means of Payment. Whether purchasing cryptocurrencies, <a href="https://notum.ai/glossary/nft">NFTs</a>, or other <a href="https://notum.ai/glossary/blockchain">blockchain</a>-related assets, <a href="https://coinmarketcap.com/currencies/paxos-standard/">USDP</a> offers a secure and efficient payment solution, facilitating seamless transactions.</li>
<li class="Default">Store of Value. As its adoption grows, <a href="https://coinmarketcap.com/currencies/paxos-standard/">USDP</a> becomes an appealing choice for preserving value and hedging against economic uncertainties.</li>
<li class="Default">Consumer Payments. <a href="https://coinmarketcap.com/currencies/paxos-standard/">USDP</a> can be used for various transactions, ranging from online purchases to in-store payments, becoming a practical and convenient choice for daily spending. </li>
</ul>
<h2 class="Default">What Can I do with USDP on Notum Platform?</h2>
With <a href="https://notum.ai/">Notum</a>, investing becomes even easier and more affordable. You can choose among a huge number of cryptocurrencies, manage your assets without delays, and get the best rates. The platform offers you to buy, stake and swap <a href="https://coinmarketcap.com/currencies/paxos-standard/">USDP</a> and thus get a fast stable income in 2023.
<ul>
<li class="Default">Buy USDP</li>
<li class="Default">Swap USDP</li>
<li class="Default">Stake USDP</li>
</ul>

Paxos Standard (PAX) - is a cryptocurrency that has its own ERC-20 token PAX which is a stablecoin. It is collateralized 1:1 to the USD held in Paxos-owned US bank accounts. The main goal of the project is to stabilize the dollar via blockchain technology.

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