Paxos Standard (PAX) is a stable coin owned by Paxos Trust Company, LLC. It combines the stability of the dollar with the efficiency of blockchain technology.
Paxos is regulated by the New York State Department of Financial Services, which has deep experience and knowledge as an intermediary between fiat and digital assets.
Built on the Ethereum blockchain, it offers the benefits of crypto-assets such as immutability and decentralized accounting. Since it is fully collateralized by dollars, Paxos Standard offers a liquid and digital alternative to cash, available 24/7 for instantaneous transaction settlement and fully redeemable.
Paxos Standard has been designed as an Ethereum token written according to the ERC-20 protocol so that anyone with an Ethereum wallet will be able to send and receive Paxos Standard tokens. The smart contract has been audited by smart contract auditors Nomic Labs and ChainSecurity, and nationally top-ranking auditing firm Withum will perform attestation procedures on their token and bank account balances on a month-end basis.
Why Use Paxos Standard:
- Hold digital assets in PAX to limit exposure to volatility
- Settle the cash component of digital asset transactions in dollar-equivalent denominations
- Move between digital assets with ease and lower fees
- Settle transactions outside of traditional banking hours
- Transact internationally more efficiently