Paxos Standard (PAX)

1.Project Description

Paxos Standard™ token is a new digital asset that is fully collateralized one-for-one by USD, issued by the Paxos Trust Company and approved and regulated by the New York State Department of Financial Services. Paxos Standard allows participants to transact in a trusted and secure, USD-backed and denominated asset with the benefits of blockchain technology and the oversight of financial regulators.

Paxos Standard represents a significant advancement in digital assets, leveraging the infrastructure, oversight and stability of the traditional financial system, while operating at the speed of the Internet.


2.Project Advantage

  • Paxos Standard tokens are issued and redeemed by Paxos. As a trust, Paxos issues PAX directly with no need for any middlemen. This enables more efficient operations,
    including shorter redemption windows (PAX can be redeemed for dollars within one
    business day) and lower fees.
  • PAX can be sent to or received by anyone with an Ethereum wallet. All transactions
    operate according to the rules of a smart contract on the Ethereum platform following the
    ERC-20 protocol. Because of this smart contract, transactions eliminate human error and the system operates only as programmed.
  • PAX is available to be listed on exchanges around the world. Since it is backed by the
    dollar, it can be used as a proxy for understanding the value of the dollar as compared to
    other digital assets.
  • The Paxos exchange, itBit, will allow users to cash out of their holdings directly and
    instantaneously to PAX rather than cash if they choose. itBit will also trade PAX OTC.
  • PAX is available 24/7 to facilitate settlement against any type of asset including crypto,
    security and asset tokens or for payments. Unlike fiat, which is only available to settle
    trades during bank business hours, PAX can move anywhere, anytime.
  • Built on the Ethereum blockchain, PAX is a programmable token that can participate in
    the larger global community of tokens, helping create a global platform for
    programmable money with stability.


3.Useful Links

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