# USDP: Pax Dollar

USDP is Paxos’ regulated dollar stablecoin, backed 1:1 by cash and cash equivalents and formerly known as Paxos Standard.

## Key details

- **Issuer:** Paxos Trust Company
- **Reference currency:** USD
- **Backing model:** Cash and short-duration US dollar assets
- **Created:** 2018-09-10

## About

Paxos was founded in 2012 and first operated the itBit institutional bitcoin exchange. It received a New York limited-purpose trust charter in 2015, launched Paxos Standard—now USDP—in 2018, and later became the stablecoin and tokenization infrastructure behind products for partners including PayPal and the Global Dollar Network.

## Supported chains

- Ethereum
- Solana

- **Reference contract:** `0x8E870D67F660D95D5be530380D0eC0bd388289E1` (Ethereum)

## Legal jurisdiction

United States

Managed by Paxos Trust Company, N.A., a national trust bank supervised by the Office of the Comptroller of the Currency under US federal banking law.

## Sources

- [Official site](https://www.paxos.com/usdp)
- [Paxos](https://support.paxos.com/articles/3639591263-pax-dollar-usdp)
- [Paxos stablecoin terms](https://www.paxos.com/terms-and-conditions/stablecoin-terms-conditions)

This directory is for research, not an endorsement or an availability promise from Fiber. Stablecoin designs, reserves, networks, and redemption terms can change.

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