USDP was designed for multiple use-cases such as peer-to-peer transfers, commerce, trading, and holding.
Paxos, the company that issues USDP, claims that USDP is backed by deposit in FDIC-insured US banks or US government treasuries, and customer dollars are all accounted for as customer property.
As at June 30th 2022, the total and circulating token supply of USDP is 945,642,940.
Pax Dollar (USDP)
A Stablecoin Backed By The US Dollar.
Jun 30th, 2022