USDP is a regulated stablecoin by Paxos that is redeemable one-to-one for US Dollars.
- Convert USDP to equivalent US Dollars at any time. Paxos offers unparalleled assurance to customers that their USDP is backed one-to-one by the dollar.
- USDP is subject to strict regulatory oversight by the New York State Department of Financial Services, meeting the highest standards of consumer protection.
- USDP reserves are held in cash and cash equivalents, meaning that customer funds are always kept safe and available for redemption.
What stablecoins does Paxos power?
Paxos powers industry-leading stablecoins: Pax Dollar(USDP) and Binance USD (BUSD). Each token is backed 1:1 by the US dollar and Paxos custodies all of the dollar reserves backing each of these tokens in US Treasury bills and FDIC-insured US banks.
How quickly can I create or redeem stablecoins?
Paxos treats USDP and BUSD as USD on their platform. That means you can instantly get USD when you deposit stablecoins. You can then withdraw your funds as USD.