What is Paxos (PAX)?
The Paxos Standard Token (PAX) is a stablecoin managed by the Paxos Trust Company. PAX is directly tied to the US dollar in order to keep its price steady and consistent instead of highly volatile like most crypto assets.
Market Cap (Mcap)
Rank
#758Mcap
$23.49MFully Diluted Mcap
$23.49MSupply
Circulating
23,498,501Total
N/ACreated On
N/AAll Time High (ATH)
ATH
$1.18ATH Change
-15.6%ATH Date
Apr 16th, 2024Total Value Locked (TVL)
TVL
N/AMCap to TVL Ratio
N/AFDV to TVL Ratio
N/APax Dollar Chart
Price
Volume
Market Cap
Other coins
Learn about Pax Dollar
Pax Dollar News
May 29, 2026
Business
Paxos Secures SEC Registration as Clearing Agency
Paxos Securities Settlement Company, a subsidiary of blockchain infrastructure firm Paxos, has received SEC registration as a clearing agency under Section 17A of the Securities Exchange Act. The registration makes Paxos the “only blockchain-native firm” approved by the SEC to operate as a central securities depository in the United States, the company said in a press release. Paxos Securities Settlement Company has been granted registration as a clearing agency by the SEC. We are now the only...
Nov 2, 2023
Business
SEC Served PayPal Subpoena 'Relating' to Firm's Stablecoin
Payments giant PayPal today revealed in its quarterly report that the SEC had issued the firm with a subpoena over its stablecoin. "On November 1, 2023, we received a subpoena from the U.S. SEC Division of Enforcement relating to PayPal USD stablecoin. The subpoena requests the production of documents," reads the report. The payments firm said it is cooperating with authorities. A subpoena from the U.S. Securities and Exchange Commission (SEC) is a legally enforceable request for documents, test...
Feb 14, 2023
Markets
BNB Token Plunges as Binance, Paxos Shutter BUSD Stablecoin Product
The recent regulatory action against Paxos and Binance over the partnership's dollar-pegged stablecoin has spooked investors. Following the crackdown from the SEC and the New York Department of Financial Services yesterday, Binance's native token BNB fell more than 5%, before recovering some early this morning. Traders also pulled funds en masse from the crypto exchange. Data aggregated by Nansen indicates that in the last 24 hours, a net $356 million has fled the exchange amid the latest regula...
May 17, 2022
Business
Paxos, State Street, and Credit Suisse Trial Permissioned Blockchain for Same-Day Trade Settlement
Paxos launched a new blockchain-based pilot in partnership with State Street that boasts same-day settlement times (also known as "T+0") for stock trading. Credit Suisse also participated in the pilot. Called the Paxos Settlement Service, the CEO and co-founder of Paxos Charles Cascarilla said that the private, permissioned blockchain solution "will revolutionize core market operations as our modern infrastructure improves efficiency, reduces risk, increases innovation and provides transparency....
Sep 10, 2021
Long Reads
Stablecoins: What Are They Good For?
Stablecoins are at the heart of some of the biggest controversies in the crypto industry today—and yet more of them keep coming. On an almost weekly basis, companies and protocols keep announcing new stablecoin moves. So, what’s behind the boom? A stablecoin is a type of cryptocurrency intended to have a stable (or relatively stable) price, typically pegged to the value of a government-issued currency like the U.S. dollar. The appeal is clear: enter the cryptocurrency market while avoiding the v...
Aug 24, 2021
Coins
Paxos Rebrands Token as 'Pax Dollar' Amid Stablecoin Wars
Paxos, a New York-based blockchain infrastructure firm, announced on Tuesday that it has changed the name of its stablecoin from "Paxos Standard' to "Pax Dollar," and that the token's ticker symbol will become USDP. "The USDP ticker more easily identifies Pax Dollar as a US dollar-backed token ... As USDP, everyone will be able to instantly recognize our token as a dollar-backed stablecoin," said Paxos's Head of Strategy, Walter Hessert, in a blog post. The announcement comes as Paxos is fightin...
Sep 13, 2020
DeFi
DeFi comes to New York as Gemini lists Compound
Crypto exchange Gemini announced Friday that traders could start depositing Pax Gold, Amp and Compound into their accounts. Trading of the assets will begin on September 15. The New York-based exchange, headed by Cameron and Tyler Winklevoss, said that it would offer US dollar trading pairs for the three new tokens via its ActiveTrader platform and API connections. The most noteworthy addition is $COMP, the governance token for decentralized lending protocol Compound that has a market cap of $5...
Jun 9, 2020
Coins
Almost half of all PAX stablecoin transfers linked to ponzi: report
Stablecoins have come under fire over the past year from global regulators who warn that these cryptocurrencies could be misused for nefarious activities. Perhaps none more so than Tether, which is often pegged as the bad boy of Bitcoin’s gang of stablecoins. But compared to Paxos (PAX), Tether might come off looking squeaky clean. According to the latest State of the Network report from crypto analytics firm Coin Metrics, the Paxos stablecoin is tied to some major (alleged) ponzi scheme activit...
Feb 20, 2020
Business
Paxos launches US securities settlement service on blockchain
The blockchain stock market has arrived in the US. Paxos today announced it launched its blockchain-based securities settlement service with major financial services providers Credit Suisse and Instinet as the first early adopters. The Paxos Settlement Service bills itself as “the first live application of blockchain technology for listed US equities.” The permissioned blockchain was built to help parties settle securities trades faster and cheaper compared to the traditional post-trade infrast...
Dec 10, 2019
Coins
BitPay merchants can now accept 3 stablecoins as payment
Cryptocurrency payments firm BitPay now processes payments made using three stablecoins—Circle’s USD Coin (USDC), Gemini Dollar (GUSD), and Paxos Standard Token (PAX). Minimum settlement amounts are 20 GUSD and 20 USDC, meaning merchants will be able to process crypto payments equal to these amounts or greater across BitPay’s product suite. BitPay adds support for Ethereum BitPay’s announcement today comes just two months after revealing it would soon enable merchants to accept Ethereum as pay...
Jun 1, 2019
The Coins
What is Paxos (PAX)?
Though many stablecoins have been developed and released in the last few years, some are more trustworthy than others. That's what's lead to a whole slew of stablecoins to chase after financial authorities to give them their nod of approval. Can Paxos and its PAX token be the most stable of the stablecoins? We find out below. What is Paxos? The Paxos Standard Token (PAX) is an ERC20 token that is 100% backed by US dollars. For every one PAX being traded, there must be at least one US dollar in...