Encyclopedia Stablecoins · Entry 308
What is Pax Dollar (USDP)?
In this article
At a glance
Key facts
| Fact | Detail | Source |
|---|---|---|
| Asset | USDP is the Pax Dollar stablecoin, distinct from other Paxos-issued tokens. | [1][2] |
| Backing | Paxos describes dollar reserves held in permitted cash and cash-equivalent arrangements. | [2] |
| Account access | Issuer redemption requires the applicable Paxos account and checks. | [2] |
Read the full asset name
USDP is one product within a wider set of stablecoins associated with Paxos. A shared service provider does not make USDP, PYUSD and USDG interchangeable deposit assets. Their tickers, deployments and applicable entity arrangements differ.
A recipient requesting USDP should receive the supported USDP version on the specified chain. Do not substitute another dollar token just because both aim at the same reference value.
Separate holding, selling and redeeming
A self-custody balance records tokens controlled by the wallet. A sale exchanges them with another market participant. Direct redemption uses the issuer’s account process and the applicable eligibility requirements.
The documented process includes a redemption address associated with the customer’s account. Sending tokens to an address copied from an unrelated transaction is not a substitute for obtaining the proper instructions.
Read the observation behind the reserve statement
Paxos publishes reserve information for USDP. Check which date and token supply the report covers and what the independent assurance statement actually concludes. The report is evidence about that scope, not a continuous audit of every transfer.
An exchange’s displayed USDP price and the issuer’s par-redemption commitment answer different questions. Liquidity and access costs can affect what a specific holder realizes when exiting.
Direct answers
Questions people ask
Can I send USDP when a merchant requests USDC?
Only if the merchant explicitly accepts that alternative. A common dollar reference does not make the two token contracts, issuers or deposit-credit systems the same.
Inspect the evidence
The answer and key facts have stable claim links. These records retain the scope and qualification when reused.
Pax Dollar, or USDP, is a dollar-referenced stablecoin issued by Paxos. The terms checked on 2 October 2026 identify Paxos Trust Company, NA and describe one-for-one customer redemption subject to the platform’s conditions. Its reserve model, market trading price and a holder’s redemption access are separate things to assess.
Scope: Stablecoins · data through 2026-10-02. Verification: verified · 2026-10-02T19:26:58.461Z.
Link to this claimAsset: USDP is the Pax Dollar stablecoin, distinct from other Paxos-issued tokens.
Scope: Stablecoins · data through 2026-10-02. Verification: verified · 2026-10-02T19:26:58.461Z.
Link to this claimBacking: Paxos describes dollar reserves held in permitted cash and cash-equivalent arrangements.
Scope: Stablecoins · data through 2026-10-02. Verification: verified · 2026-10-02T19:26:58.461Z.
Link to this claimAccount access: Issuer redemption requires the applicable Paxos account and checks.
Scope: Stablecoins · data through 2026-10-02. Verification: verified · 2026-10-02T19:26:58.461Z.
Link to this claimRevision history
- — First publication after primary-source research and separate automated verification.
Source register
Sources and references
Retrieval dates and locators are recorded individually.- Pax DollarPaxos
USDP product identity and reserve reporting; marketing is not an independent solvency audit.
Locator: Pax Dollar; reserves; transparency · Version / scope: Document retrieved 2026-10-02; content hash recorded · Retrieved: 2026-10-02T18:51:08.368ZOpen source - USD stablecoin termsPaxos
Current issuer entities and account-based redemption of USDG and USDP, with conditions and limits.
Locator: Introduction; 2.7 Redemption; reserves · Version / scope: Document retrieved 2026-10-02; content hash recorded · Retrieved: 2026-10-02T18:51:08.354ZOpen source - USDC contract addressesCircle
Official chain-specific token identification. Testnet and mainnet identities must not be confused.
Locator: Mainnet addresses; Solana · Version / scope: Document retrieved 2026-10-02; content hash recorded · Retrieved: 2026-10-02T18:51:05.791ZOpen source
Research and drafting use AI assistance. A separate automated review checks claims against primary sources; no external expert or named human review is implied. Publication, substantive editing, source retrieval and verification are recorded separately. This version was independently checked by an automated reviewer on 2 October 2026.
Editorial method and correctionsDegrees of Satoshi editorial project. “What is Pax Dollar (USDP)?.” Published 2026-10-02; updated 2026-10-02. https://degreesofsatoshi.com/encyclopedia/what-is-usdp/