Key metricsKey metrics
PricePrice$0.9994
Asset TypeAsset TypeStablecoin
StructureStructureFor Profit Company
Project StatusProject StatusWorking Product
OwnershipOwnershipTrade Restriction
SectorSectorCurrency
IndustryIndustryBlockchain
FoundedFounded10-Sep-2018
CountryCountryUnited States
Key personKey personCharles Cascarilla

Paxos Standard Token (PAX) Information{coin_name} ({symbol}) Information

Paxos Standard (PAX) combines U.S. Dollar stability with the efficiency of blockchain technology

See Company's statements including Whitepaper. Quote from whitepaper which may be relevant: Paxos Standard token, a 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
Contract is audited
Only tick this if an official third party audit has conducted and a report of this is publicly available
Utility of the coin/token
1 PAX = 1 USD
Rights of the coin/token holder
See Company's statements including Whitepaper. Quote from whitepaper which may be relevant: In other words, as a regulated trust company and financial institution issuing a token backed by U.S. dollar deposits, Paxos can offer a token that combines the trust and stability of fiat currency with the utility and immediacy of digital assets. Paxos Standard, or PAX, is a token that is backed one-to-one by USD deposits and available through Paxos. PAX is available one-to-one in exchange for USD and redeemable one-to-one for USD. Upon redemption, PAX tokens are immediately removed from the supply; PAX are only in existence when the corresponding dollars are in custody.
Obligations of the coin/token
Please refer to Company's statements and to its whitepaper
Restrictions on the coins/tokens
Token is tied to USD,
Other features of the coins/tokens
Please refer to Company's statements and to its whitepaper

Team OverviewTeam Overview

Charles Cascarilla
CEO

Charles Cascarilla is the CEO and co-founder of Paxos, a financial technology company delivering blockchain solutions for global financial institutions. With over 15 years of experience in financial services, Charles has a unique perspective on integrating blockchain technology with traditional systems. He co-founded institutional asset management complex Cedar Hill Capital Partners in 2005 and its venture capital subsidiary, Liberty City Ventures, in 2012. He also sits on the Governing Board of the Hyperledger Project.

Richmond Teo
Co-Founder

Based in Singapore, Rich is the CEO of Asia and a co-founder of itBit. He leads the company’s regional operations and initiatives. Along with the global executive team, he continues to build itBit’s global presence as a leading international exchange.

Andrew Chang
COO

Andrew Chang is a founding partner at Liberty City Ventures. Previously he was a business development manager at Google, and before that, the COO at ConditionOne, panoramic video software company. Prior to that, he was an associate at TechStars for the Spring 2012 program in New York. He previously managed operations for Kantar Video, a WPP video analytics company, and led the Consumer Insights and Research division at the digital marketing agency 360i.

Rob Thorpe
Technology Manager

Technology consultant, advisor and investor.

OrganizationsOrganizations

Paxos Trust Co LLC

Company NumberCompany Number LEI : 549300EQW4J4RXDLD359
140 East 45th Street, New York, US-NY 10017

Questions and AnswersQuestions and Answers

What is Paxos Standard?
Paxos Standard is a “stablecoin,” which has characteristics unique to digital assets, but without price volatility. Paxos Standard tokens are backed 1:1 by USD held in US bank accounts. It trades under the ticker symbol PAX on exchanges around the world. Issued by the Paxos Trust Company and running on the Ethereum blockchain protocol, Paxos Standard offers increased speed, mobility, flexibility and accessibility for assets within the global financial system.
How is Paxos Standard different from other stablecoins?
While other stablecoins exist, none have been able to provide the functionality, sustainability and regulatory oversight that a reliable stablecoin needs. Paxos Standard has a number of distinguishing properties, including: Regulation: Paxos Standard is issued by Paxos Trust Company, a financial institution that is overseen by its regulator, the New York State Department of Financial Services. Guaranteed cash deposits: All cash deposits that collateralize Paxos Standard are held at U.S.-domiciled, FDIC-insured banks. Audited: A nationally top-ranking auditing firm Withum performs month-end attestations on Paxos Standard bank accounts. Security: Transaction monitoring and surveillance conducted by leading partners provides an additional layer of compliance oversight. Daily purchase and redemption windows: Allows funds to be moved freely and frequently. No fees: Because Paxos issues Paxos Standard tokens directly, it can offer no fees.
Who should use Paxos Standard?
Anyone with an Ethereum wallet (that supports ERC-20 tokens) can send or receive Paxos Standard tokens Financial institutions and trading firms seeking a digital asset that can hedge against the volatility of other digital assets, or a way to settle transactions outside of traditional banking hours Digital asset custodians and exchanges looking to provide the option of a regulated fiat-backed digital-asset as an alternative to current offerings Individuals and merchants looking for a more efficient USD-based payments system than current incumbent offerings
What can Paxos Standard be used for today? What about in the future?
The crypto-asset space is early in maturation, and initial use cases for PAX will be distinct from future use cases. Today, Paxos Standard can be used to limit exposure to crypto-asset volatility, to remove cross-border transaction fees and to move between crypto-assets with ease or as payment for other blockchain-based assets. In the future, Paxos Standard can be used for consumer payments, offering a stable store of value for those outside the United States that face currencies with unpredictable volatility.
How does the price of Paxos Standard remain stable if it’s a crypto-asset?
Because Paxos Standard is fully collateralized 1:1 with USD in bank accounts, it is not susceptible to significant price fluctuations. Additionally, a third-party auditor ensures that dollar deposits match PAX tokens in circulation, so the collateralized status of Paxos Standard is never in question. Paxos Standard token will always have a redemption value of 1 PAX = $1 USD. The number of PAX tokens in circulation will always exactly match the number of dollars in reserve, so the price ratio will always be 1:1.
Why does Paxos Standard use Ethereum?
Ethereum is a decentralized blockchain-based ledger that supports smart contracts, and is the most widely-used digital-asset platform. Paxos Standard follows the ERC-20 protocol, which is a standard for smart contracts on the Ethereum blockchain. The ERC-20 standard specifies a set of standard functions to manage transactions and track account balances. Some of the advantages of the Paxos Standard ERC-20 token are listed below: High utility Seamless wallet support and exchange integration. Any provider that has implemented ERC-20 code can support the token on their platform An open network enables use-cases impossible on a closed network Maximum end-user trust Users do not have to trust a given exchange to hold their token Reduced liquidity risk – each user can redeem from our regulated trust which publicly ensures they have enough cash on hand
Is Paxos Standard a security under U.S. law?
No. We have consulted with our legal counsel and have concluded that Paxos Standard does not meet the definition of a security under either the Securities Act of 1933 or the Securities Exchange Act of 1934.
Where are customer funds kept?
Customer funds are held in segregated accounts at FDIC-insured, U.S.-domiciled banks.
Is Paxos Standard audited?
Yes, nationally top-ranking auditing firm Withum performs attestations (using standards established by the AICPA) on Paxos bank accounts holding dollar deposits and the PAX tokens on a month-end basis to further enhance the transparency of the token. You can access every attestation report here: https://www.paxos.com/standard/attestations
Is there a cap on how many Paxos Standard tokens will be created?
No, there is no cap on the number of Paxos Standard tokens that Paxos can generate. Paxos Standard tokens are only created when dollars are deposited. They only exist when dollars are in custody. When Paxos Standard tokens are redeemed for cash, the tokens are immediately destroyed. Tokens can be purchased or redeemed only on a 1:1 basis with USD.

TechnicalTechnical

Key metricsKey metrics
Token InformationToken Information
Paxos Standard Token is a token on the ETH platform using the ERC-20 standard. The address of the token contract is 0x8e870d67f660d95d5be530380d0ec0bd388289e1.

Source Code Repositories

paxosglobal/pax-contracts 36 Stars 2 Contributers 0 Open Issues

Solidity smart contracts for the Paxos Standard ERC20 stablecoin PAX

EconomicsEconomics

Tradeable CoinsTradeable Coins
136,273,031 (85% of total) ({tradeable_of_total} of total)

Rich List Addresses holding the largest balances

AddressAddress AmountAmount NameName
0x4e9ce36e442e55ecd9025b9a6e0d88485d628a67 68,808,391.6819387 Binance 6
0x030e37ddd7df1b43db172b23916d523f1599c6cb 10,000,000.4174304
0x5c985e89dde482efe97ea9f1950ad149eb73829b 9,694,974.98164737 Huobi 5
0x3f5ce5fbfe3e9af3971dd833d26ba9b5c936f0be 5,537,414.253803 Binance 1
0xfdb16996831753d5331ff813c29a93c76834a0ad 4,404,709.07003298 Huobi 3
0x6cc5f688a315f3dc28a7781717a9a798a59fda7b 4,111,432.12604175 Okex 1
0xc5a8859c44ac8aa2169afacf45b87c08593bec10 3,571,378.66
0xeee28d484628d41a82d01e21d12e2e78d69920da 3,003,799.75003989 Huobi 4
0xfbb1b73c4f0bda4f67dca266ce6ef42f520fbb98 2,808,445.05505937 Bittrex 1
0xfa4b5be3f2f84f56703c42eb22142744e95a2c58 2,040,558.68582062 Huobi 11
0xac0820f96706c7195559dd6ef6ecfd1ff4c2dc49 1,717,161.99970298
0x0628ba39a124b772fae5edd52d2aa330e0f1078a 1,240,140.2
0xd8b0462cb7030d2c25d830de6fb0907bee15aaec 1,099,891.5
0x008024771614f4290696b63ba3dd3a1ceb34d4d9 1,092,397.53228688
0x1062a747393198f70f71ec65a582423dba7e5ab3 1,051,884.6194924 Huobi 9
0xe98186f674ee8b890ea6a83efc45b9e497059d88 1,000,006.5
0x3abcdee89a4c8e188c601c1840312cd287d51978 1,000,000
0x41d2fc174dd44b8a5dd51c14679edc91e36b5754 1,000,000
0x0eebbb51cdee449fcfa9ed497c028a6f6080d962 903,838.46902102
0x915d7915f2b469bb654a7d903a5d4417cb8ea7df 878,306.60924655 FCoin

Exchange Markets

ExchangeExchange MarketMarket PricePrice DiffDiff Volume 24hVolume 24h SpreadSpread Spread $1kSpread $1k
Binance BTC/PAX $0.9995 0.01% $18,543,562 0.13% 0.15%
Binance PAX/USDT $0.9980 -0.14% $6,931,179 0.02% 0.04%
Binance ETH/PAX $0.9982 -0.12% $4,953,156 0.09% 0.09%
Binance PAX/TUSD $0.9934 -0.6% $884,454 0.1% 0.25%
Binance USDC/PAX $0.9999 0.05% $815,280 0.07% 0.08%
Binance BNB/PAX $0.9999 0.05% $665,695 0.32% 0.35%
Binance LTC/PAX $0.9999 0.05% $614,963 0.38% 0.48%
Binance XRP/PAX $1.0000 0.05% $471,202 0.34% 0.5%
Binance EOS/PAX $0.9976 -0.18% $225,076 0.24% 0.35%
Binance ADA/PAX $0.9920 -0.74% $153,465 0.39% 0.4%
Binance NEO/PAX $0.9999 0.05% $88,757 1.1% 1.3%
Binance TRX/PAX $1.0000 0.05% $57,756 0.46% 0.49%
Binance XLM/PAX $1.0000 0.05% $52,385 0.4% 0.93%
Binance ETC/PAX $0.9999 0.05% $47,334 0.62% 0.64%
Bittrex PAX/USD $1.0000 0.05% $39,017 0.55% 0.55%
Gate.io PAX/USDT $0.9971 -0.23% $20,516 0.2% 0.7%
Binance ZEC/PAX $0.9999 0.05% $19,671 0.93% 0.94%
Binance LINK/PAX $0.9999 0.05% $16,487 1% 1.2%
Binance BAT/PAX $1.0000 0.05% $14,507 0.53% 0.71%
Binance BTT/PAX $0.9998 0.04% $12,469 0.71% 0.87%
Binance WAVES/PAX $0.9999 0.05% $12,182 1.3% 1.6%
Bittrex PAX/BTC $1.0020 0.26% $4,946.78 1.9% 2.2%
Binance ATOM/PAX $0.9999 0.05% $3,130.62 1.2% 1.2%
Bitfinex PAX/BUSD $0.9994 0% $2,461.83 1.2% 1.2%
Binance BCPT/PAX $1.0000 0.05% $1,917.01 4.1% 7.7%
Bittrex PAX/USDT $0.9952 -0.43% $545.33 4% 4%

Latest Paxos Standard Token NewsLatest Paxos Standard Token News

Paxos on Twitter

It’s that time again...What will the #bitcoin price be next May?! Some high #2020predictions from @CoinField @hamletb @@StablePay @adc555… https://t.co/wBtCbMRVdM

Paxos Standard Token on Twitter ReadRead 

Paxos Standard (PAX) on Twitter

In the past week, $PAX has been traded in more than $1.6 billion transactions.…

Paxos Standard Token on Twitter ReadRead 

Paxos on Twitter

The #PAX smart contract is the foundation of our #regulated stablecoin. We designed it to minimize threats and allow for upgrades, unlike all other stablecoins. Learn more here: https://t.co/fnpD14Fikq

Paxos Standard Token on Twitter ReadRead 

Paxos on Twitter

Update: Lots of news around @libra_ and its whitepaper yesterday… #Paxos CEO Chad Cascarilla chimed in to @fortunemagazine #TermSheet… Check it out to see what he had to say! #PAX https://t.co/clSBg0keAL

Paxos Standard Token on Twitter ReadRead 

Paxos on Twitter

2019 has been busy at Paxos - we’re working on exciting projects you’ll hear more about soon. Already this year, we upgraded our Paxos Platform, it’s how we’re envisioning a global, frictionless economy. Check it out here @ our website! https://t.co/ZWpJ2LUNkw

Paxos Standard Token on Twitter ReadRead 

Paxos Standard (PAX) on Twitter

Check out last week's $PAX metrics here…

Paxos Standard Token on Twitter ReadRead 

Paxos on Twitter

What’s the #consensus?! What will the price of #bitcoin be next year? Here’s some more #2020predictions @joroivanoff @MrJozza @shiftmarkets… https://t.co/T8ZAVa2qyJ

Paxos Standard Token on Twitter ReadRead 

Paxos Standard (PAX) on Twitter

$PAX has exceeded $25 billion in transaction volume! Check out last week metrics here…

Paxos Standard Token on Twitter ReadRead 

Paxos Standard (PAX) on Twitter

Starting today, #Binance customers can seamlessly convert US Dollars to $PAX, which are then sent directly to their account at Binance. All of this happens automatically with just a few simple inputs from the user.… https://t.co/3HQ5EHj4rp

Paxos Standard Token on Twitter ReadRead 

Asia Blockchain Summit on Twitter

Meet our honored speakers at #ABS2019: Co-founder & Head of Asia of @PaxosGlobal, Richmond Teo, Founder & CEO of @BITPointJP, Genki Oda, and Co-founder & Head of Engineering of @TrustToken, @RafaelCosman. ??Get your tickets: https://t.co/vzDdMotzqc… https://t.co/ASX34yutiV

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This information is provided AS IS and is not adviceThis information is provided AS IS and is not advice. May contain errors or omissions. Please always do your own research before trading.May contain errors or omissions. Please always do your own research before trading.
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