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Cryptocurrencies/Coins/Pax Dollar (USDP)
Pax Dollar price, market cap on Coin360 heatmap

Pax Dollar(USDP)

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$0.99993
(-0.11%)
0.00004086 BTC
Market Cap (Rank#65)
$945,576,490
38,641 BTC
Vol 24h
$7,383,944
301.743 BTC
Circulating Supply
945,642,940.11
Max Supply
106,388,842
28 days agocryptodaily
PicPay To Offer Crypto Services To 65M Brazilians
Brazil’s largest payments app has announced that it will soon be launching crypto payment services to its 65 million-strong customer base in the country. Crypto Trading For PicPay Users The company has announced through a blog post that it will launch an in-app crypto exchange allowing users to trade cryptocurrencies. The fintech giant has over 65 million customers who will be able to buy and sell Bitcoin and other cryptos through the PicPay app using fiat currencies. However, it is unclear if the feature will allow users to withdraw the BTC stored in their in-app wallets. Besides BTC, the app will also be supporting cryptos like ETH and Paxos-backed stablecoin USDP. Paxos is also the service provider behind the app’s interface. The company has already provided crypto management services to Nubank and Mercado Libre. The PicPay app is planning on onboarding more cryptocurrencies by the end of the year to give potential investors more options. According to the VP of technology and products at PicPay, Anderson Chamon, “Our first novelty in the cryptocurrency market will be an exchange, which is a broker for those who want to invest in cryptocurrencies at PicPay. The user who wants to know where to buy cryptocurrencies will be able to do everything through the app, with a very simple, practical and safe experience.” Other Crypto Offerings On PicPay Besides launching the exchange, the payments app is also focusing on integrating crypto payments into the economy. It will also allow customers to pay with crypto at any merchant retailer using PicPay as a payment option. Furthermore, PicPay will also launch its own Brazilian real-pegged stablecoin (BRC) to make payments and purchases. According to reports, the BRC stablecoin will not be limited to PicPay users. Even tourists visiting the country can buy BRC on any exchange through any digital wallet and use it in the Brazilian market. Additionally, the app will be providing educational materials to spread crypto awareness and knowledge among its users. The company is looking to leverage its position as the largest payment app in Brazil to introduce more and more citizens to Bitcoin and other altcoins. Chamon has commented, “PicPay will enter the crypto market to lead its popularization not only as an investment, but also as a way to decentralize payments and other financial services. There is still a lot of complexity in the crypto world, and our role is to make it as easy as using money for everyone.” Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
30 days agocoindesk
Brazilian Fintech PicPay to Launch Crypto Exchange, Real-Tied Stablecoin
The company, which has 30 million active users, will offer bitcoin, ether and USDP trading.
104 days agocryptodaily
Coinbase Lists Binance's BUSD Stablecoin
BUSD, Binance's U.S. dollar-backed stablecoin, has been listed on Coinbase, one of the largest exchanges in the U.S. and globally. The listing will see BUSD open for access by Coinbase users and traded through the Ethereum network as an ERC-20 token. This listing is Coinbase' eighth for a stablecoin. To date, Coinbase currently supports Tether (USDT), USD Coin (USDC), TerraUSD (UST), Dai (DAI), Paxos Standard (PAX), Rai Reflex Index (RAI), and mStable USD (MUSD). Binance's BUSD stablecoin project was initially launched through the exchange's partnership with Paxos, a crypto custody firm which manages the stablecoin's dollar reserves. BUSD currently ranks 10th among the 172 assets that Coinbase has listed to date. Despite this popularity, the launch of BUSD on Coinbase didn't go through as smoothly as it would have. Just hours after the listing, a number Coinbase users reported that they were unable to transfer BUSD from Coinbase to their wallets. This was because Coinbase took the prerogative to pause trading for BUSD due to the BUSD-USDT trading pair failing to meet certain liquidity metrics required by the exchange to continue trading. The exchange promptly resumed trading for the pair once the liquidity threshold was met. Coinbase is a direct competitor of Binance, and the two exchanges have often been at odds. As Binance's stablecoin lists on its competitor's platform, the two exchanges will likely again be at odds but would expectedly work together to keep the liquidity flowing. Binance has been notorious for calling out Coinbase as the "exchange of choice" for Wall Street, while also calling itself the exchange for "all streets," aiming for a broader public appeal. Binance's BUSD reserves as managed by Paxos have been fully audited and have been found to be compliant with the regulatory framework for stablecoins requiring a 1-to-1 ratio. Auditing firm Withum has examined both Paxos' Pax Dollar (USDP) and BUSD, vetting for the veracity of stablecoins' claims of being dollar-backed. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
243 days agobitcoinexchangeguide
WhatsApp Allows Users in US to Send and Receive Money Without Fees Using USDP Stablecoin
WhatsApp has launched a pilot to let a “limited number” of people in the US send and receive money using crypto. This new feature is powered by Meta’s (previously Facebook) digital wallet Novi that was launched recently, supporting payments with stablecoin Pax Dollars (USDP). After David Marcus announced his exit early last week, Stephane Kasriel, […] The post WhatsApp Allows Users in US to Send and Receive Money Without Fees Using USDP Stablecoin first appeared on BitcoinExchangeGuide.
294 days agobitcoinexchangeguide
US Senators Calls Facebook to ‘Immediately’ End Novi Pilot Program Using Paxos Dollar (USDP) & Coinbase Custody
The call came right after Facebook launched its digital wallet Novi through which it will “offer free person-to-person payments” that will ultimately use stablecoins Diem, pending regulatory approval. The post US Senators Calls Facebook to ‘Immediately’ End Novi Pilot Program Using Paxos Dollar (USDP) & Coinbase Custody first appeared on BitcoinExchangeGuide.
295 days agocryptodaily
Facebook’s Novi Met With Significant Pushback From US Lawmakers
Facebook’s renewed effort to launch a digital currency (Diem) and a digital wallet (Novi) has met with strong opposition from Democratic lawmakers, who have gone on record to state that Facebook cannot be trusted to launch a digital currency. The senators urged Facebook to dismiss their plans for their wallet Novi and commit not to bring Diem to the market after the company had repeatedly failed to protect its users. Facebook Cannot Be Trusted. Senators Brian Schatz (D-Hawaii), Sherrod Brown (D-Ohio), Richard Blumenthal (D-Conn.), Elizabeth Warren (D-Mass.), and Tina Smith (D-Minn.) released a statement ordering Facebook CEO Mark Zuckerberg to halt the company’s work on the pilot of Novi, and also stop its work on the Diem Stablecoin project, committing to not bringing the stablecoin into the market. The Senators wrote in their letter, “Facebook is once again pursuing digital currency plans on an aggressive timeline and has already launched a pilot for a payments infrastructure network, even though these plans are incompatible with the actual financial regulatory landscape—not only for Diem specifically but also for stablecoins in general...Unfortunately, Facebook’s decision to pursue a digital currency and payments network is just one more example of the company ‘moving fast and breaking things (and in too many cases, misleading Congress in order to do so). Facebook cannot be trusted to manage a payment system or digital currency when its existing ability to manage risks and keep consumers safe has proven wholly insufficient.” The Senators released the open letter shortly after Facebook announced plans of launching a pilot program for its Novi wallet subsidiary in the United States and Guatemala. The pilot project will see Facebook allow users to purchase USDP (Paxos Dollars) and custody them with Coinbase. A Repeat Of The Original Libra Announcement The furious backlash is similar to the one Facebook faced when it made the original Libra announcement. Facebook’s vision of Stablecoins was met with derision, as it drew the ire of regulators and lawmakers the world over, including the Senate and the House of Representatives. The Senators made sure to add a reference to the pushback Facebook met with while noting that both Mark Zuckerberg and Facebook Payments Chief David Marcus had committed to secure regulatory approvals before launching any financial products. ”To be clear, your ability to secure state-issued money transmitter licenses is not equivalent to obtaining the blessing of ‘all U.S. regulators,’ as you said in your testimony two years ago,” Misleading Congress The lawmakers also brought into focus Facebook’s prior interactions with Congress, including the allegations that the company could have misled Congress in the past. The letter also pointed out that regulators are currently examining stablecoins and the stablecoin industry, with recommendations expected soon from the President’s Working Group on Financial Markets. The lawmakers also criticized the lack of any satisfactory explanation as to how Diem would prevent any criminal activity and illicit financial activities, in addition to the risks posed by Diem to financial stability. Partnership With Coinbase Facebook’s crypto and digital asset wallet subsidiary, Novi, has announced that it has partnered with Coinbase to launch a pilot program for its services. The program is currently live in the U.S. and Guatemala and is available on Google Play and Apple App Store. Coinbase will support Novi through the Coinbase Custody Service, which provides users with secure storage for their private keys. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
295 days agocryptodaily
Facebook’s Novi Crypto Wallet Set For Pilot Launch With Coinbase and Paxos
Novi, Facebook’s crypto and digital asset wallet subsidiary, has officially announced that it has partnered with Coinbase, a leading U.S. crypto exchange; and Paxos, the financial institution and technology firm behind the Paxos Dollar stablecoin. This partnership will see the three firms collaborating to launch a pilot program for their integrated services. The pilot program is now live in the U.S. and Guatemala, and is available on mobile app stores Google Play and Apple App Store. According to an announcement posted by Coinbase, the crypto exchange will be supporting Novi through its Coinbase Custody service, a platform that provides users with secure and fully segregated cold storage for managing private keys. The pilot program will test out how Novi users may acquire Pax Dollar ($USDP) through their Novi accounts. User’s acquired USDP purchases will be held by Novi through Coinbase’s enterprise custodial service. With this, Novi users may transfer USDP between their respective accounts with near-instant transaction speeds. Coinbase currently manages over $180 billion in crypto and digital assets across its products and offerings, including institutional and enterprise-level services. “We believe that in the future, every company will be a crypto company, including fintech platforms, banks, social media, gaming companies, and consumer brands. Our goal is to arm them with the best tools possible so their own users have a first-class experience and participate in the cryptoeconomy.” Coinbase stated. Paxos’ USDP stablecoin is a regulated stablecoin issued by the Paxos Trust Company, its financial institution entity. Paxos says that it is fully regulated and compliant, and that the stablecoin is “100% backed by US dollars and cash equivalents.” Paxos further says that the collaboration for this Novi pilot program “represents a tide shift in digital assets, as it’s the first time that stablecoins are readily available in a consumer wallet outside of the crypto ecosystem." "Today’s financial infrastructure is archaic, expensive, inefficient, and risky– supporting a system that leaves out more people than it lets in. Stablecoins can transform the financial landscape, but we need easy ways for people to access this new technology." Paxos stated in a blog announcement. In an earlier report, CryptoDaily has covered how unconfirmed details of Facebook’s crypto holdings have circulated. Facebook’s Novi Wallet is an offshoot and rebrand of its Calibra digital wallet, which was later renamed to its current naming. David Marcus, head of Facebook Financial, has previously hinted at the launch of Novi within the year. Notably, both the statements from Paxos and Coinbase have failed to mention the Diem Project, Facebook’s own cryptocurrency project. Diem is the rebranded name of Facebook’s initial foray into the crypto space, replacing Libra. According to details on Diem’s project site, it is being developed as a stablecoin based on an undisclosed fiat currency. The Diem Project is run as an open consortium, the Diem Association, which includes membership from several tech startups: LYFT, Uber, Shopify, and Coinbase, among others. Diem’s design as a permissionless payment platform is still under review from regulators. Facebook claims that it intends to launch Novi alongside Diem once the latter "receives regulatory approval and goes live." The pilot program is set to evaluate Novi’s core functionalities and test its operational capabilities in terms of customer service and compliance. The crypto wallet is also undergoing further development for interoperability with other digital wallets and blockchain-based payments platforms. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
351 day agobitcoinexchangeguide
Blockchain Firm Paxos Renames Paxos Standard (PAX) Stablecoin to Pax Dollar (USDP)
Blockchain infrastructure firm Paxos has announced the rebranding of its stablecoin from Paxos Standard (PAX) to Pax Dollar (USDP). USDP Would Transform Global Payments Paxos move to rebrand is part of its plan to distinguish itself from other stablecoin operators. According to the announcement, the firm said the USDP ticker identifies Pax Dollar more as […] The post Blockchain Firm Paxos Renames Paxos Standard (PAX) Stablecoin to Pax Dollar (USDP) first appeared on BitcoinExchangeGuide.

About Pax Dollar

The live price of Pax Dollar (USDP) today is 0.99993 USD, and with the current circulating supply of Pax Dollar at 945,642,940.11 USDP, its market capitalization stands at 945,576,490 USD. In the last 24 hours USDP price has moved -0.0007 USD or -0.00% while 6,146,616 USD worth of USDP has been traded on various exchanges. The current valuation of USDP puts it at #65 in cryptocurrency rankings based on market capitalization.

Learn more about the Pax Dollar blockchain network and how it works or follow the price of its native cryptocurrency USDP and the broader market with our unique COIN360 cryptocurrency heatmap.

Paxos Standard is a token backed by USD deposits. Paxos works by infusing the stability of the US dollar with innovative technology like decentralized trusts, distributed ledgers, and smart contracts. Paxos Standard was developed to improve the function of money without trading in its reliability. You can check out the latest PAX price on Coin360. Find Paxos Standard token price graphs, market capitalization and the latest news about the Paxos token on Coin360.com.


Pax Dollar Price0.99993 USD
Market Rank#65
Market Cap945,576,490 USD
24h Volume7,383,944 USD
Circulating Supply945,642,940.11 USDP
Max Supply106,388,842 USDP
Yesterday's Market Cap945,895,230 USD
Yesterday's Open / Close1.001 USD / 1.0003 USD
Yesterday's High / Low1.0023 USD / 1.0001 USD
Yesterday's Change
0.00% ( 0.0007 USD )
Yesterday's Volume6,146,615.50 USD
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