Assets · Stablecoin · issued by Paxos
Pax Dollar (USDP)Updated 26 Oct 2026
Paxos's US dollar stablecoin, issued by its New York trust company and formerly called Paxos Standard (PAX).
Issued through Pax Dollar (USDP) Live (limited)
Classification · high confidence
- Legal form
- Stablecoin from economic tests
- Underlying
- Money · Money 54%, Government debt 46% (30 Sep 2026)
- Value behaviour
- Stable value · no income
- Ledger role
- Native
KPMG-examined redemption assets report at 30 Sep 2026: $26.11m against 26.08m USDP redeemable tokens; bank cash $14.18m (54.3%) and overnight repurchase agreements $11.94m (45.7%, Treasury collateral, counted as government debt); no Treasuries or MMFs held directly. Cash is the majority, so the primary is money (on 17 Sep it was 57.6%).
Sourced[4]. How assets are classified: methodology.
Contracts
Addresses as published by the issuer. Check them on the explorer before relying on them. Supply per network comes from the issuing deployment's on-chain figures.
| Network | Address | Standard | Supply here | Source |
|---|---|---|---|---|
| Ethereum | 0x8E870D…8289E1 ↗ | ERC-20 | ~$20.39m | [1] |
| Solana | HVbpJAQG…KEN4tM ↗ | SPL | ~$1.69m | [1] |
Settles in USDP
- Mastercard stablecoin settlement for issuers, acquirers and merchantsLive (limited)[5]Enabled from June 2026; no evidenced flows found.
- Stripe stablecoin payments acceptanceLive (limited)[6]US only.
Sources
- [1]USDP on Main Networks — Paxos. Accessed 11 Oct 2026.B
- [2]paxosglobal/paxos-token-contracts: Paxos stablecoin smart contract repo — Paxos (GitHub). Accessed 13 Oct 2026. Repository covers USDP, USDG, PYUSD and PAXG and describes the token as ERC-20..B
- [3]Paxos Standard (PAX) is now Pax Dollar (USDP) — Paxos, Aug 2021. Accessed 11 Oct 2026.B
- [4]Pax Dollar (USDP) Redemption Assets Report as of 17 and 30 September 2026, with KPMG LLP examination report dated 23 October 2026 — Paxos Trust Company / KPMG LLP, 23 Oct 2026. Accessed 26 Oct 2026. Linked from paxos.com/usdp-transparency (attestations list renders client-side)..A
- [5]Mastercard expands settlement capabilities — Mastercard, Jun 2026. Accessed 11 Oct 2026.B
- [6]Stablecoin payments — Stripe. Accessed 11 Oct 2026.B