what's paxos usdp?
USDP, also known as Pax Dollar, is a stablecoin issued by Paxos Trust Company, a regulated financial institution in the United States. It is designed to maintain a constant value of one US dollar through full collateralization with USD deposits, short-term US Treasuries, and other cash equivalents held in regulated US banks. USDP operates on multiple blockchains including Ethereum, Solana, Polygon, and Base, enabling seamless transfers and integration into decentralized applications, payments, and financial services. The stablecoin adheres to strict regulatory standards, with monthly attestations from third-party auditors verifying reserve adequacy. This transparency and compliance make USDP suitable for institutional use, remittances, and everyday transactions where stability and trust are paramount. Paxos issues and redeems USDP directly, ensuring redeemability for USD at a 1:1 ratio for verified users. USDP facilitates efficient cross-border payments and DeFi participation by minimizing volatility risks associated with other cryptocurrencies. Its multi-chain support enhances interoperability, allowing users to leverage it across ecosystems without bridging complexities.
Paxos invested in Coinbax for stablecoin payments; USDP is on AVAX with boosted incentives.
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participated as an investor in Coinbax's $4.2M seed funding round led by BankTech Ventures for a programmable trust layer for stablecoin payments
USDp is paired with gamiUSDC in a liquidity pool on AVAX with boosted incentives available for farmers.
PYUSD0, the omnichain extension of PYUSD stablecoin issued by Paxos, is now live on Stable Mainnet, enabling users to move PYUSD0 through Stargate at a 1:1 rate with zero slippage.
The USOCC grants conditional approval for Paxos Trust Company to convert from state-chartered to national trust bank charter, requiring additional conditions before becoming fully operational.
Partnership between Paxos, Loopscale, Apollo Global, and Solana focuses on tokenized capital markets initiatives.
Paxos applies to the SEC to become a clearing agency, which would enable the company to hold bonds and stocks directly and issue them natively onchain, allowing users to hold underlying assets rather than derivatives.
USDP contract suffers an exploit resulting in approximately $1 million loss, with PeckShield alerting users to revoke all token approvals to the USDP contract.
Paxos launches USDG0, an omnichain version of its USDG stablecoin, across Plume Network, Hyperliquid, and Aptos using LayerZero's OFT standard for native cross-chain transfers. The stablecoin is fully backed by cash, short-term U.S. Treasuries, and cash equivalents.
Paxos announces acquisition of Fordefi, an institutional custody and wallet technology provider.
USDG stablecoin launches on Aptos with Paxos and LayerZero as partners.
Regulatory incompatibility between GENIUS and MICA frameworks requires Paxos to choose between compliance regimes, as multi-jurisdictional issuance with token fungibility is not possible under current regulations.
Paxos participated in HyperLiquid's competitive bidding process to manage USDH stablecoin reserves but Native Markets won the bid.
Paxos announces planned end of life for USDL stablecoin, with partners winding down USDL-related activities.
Paxos announces collaboration focused on privacy features for stablecoin payments, featured in American Banker coverage highlighting privacy as foundation for compliant digital transactions.
Partnership with Kamino brings DeFi opportunities on Solana with over $120K in incentives distributed over the next 4 months.
Spectra protocol integrates csUSDL as a supported ERC-4626 token, offering fixed-rate USDL pools with 20%+ APY across Avalanche, Sonic Labs, and Base networks.
PayPal accidentally mints 300 trillion tokens due to decimal error (adding 6 decimals twice), exposing lack of rate limits and multi-signature authentication protocols for minting operations.
Stripe announces support for USDP subscription payments on October 14, 2025, enabling businesses to accept recurring crypto payments across Ethereum, Solana, Polygon, and Base networks.
Paxos partners receive revenue share on stablecoin mints; Anchorage has exclusive agreement for full revenue from Paxos stablecoins on their platform.
Major whale address accumulates 6.71% of supply for $301, sees unrealized gains peak at $9M during market cap surge to $150M before retracing to $30M.
New yield farming opportunity launches with 41% APR and $3,000 USDC rewards for csUSDL pool supporters through vlPNP staking.
New csUSDL pool launches on Penpie with PENDLE rewards and 30x Shift Points multiplier.
Gearbox Protocol increases csUSDL borrow cap, enabling leveraged yields up to 166% APY through $SHIFT token rewards.
Large whale transfer of 1.89% of total supply moves to centralized exchanges.
EU exchanges must delist multiple stablecoin pairs including USDP effective March 31st.
Stablecoin issued by Paxos offering 30%+ yield (up to 5% consistent APY from RWA). Backed by US T-bills and RWAs. Trusted by over 300 associations.