---
title: "Pax Dollar (USDP) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/usdp-paxos/"
description: "Build-time stablecoin profile for Pax Dollar (USDP). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-06-03"
---



# Pax Dollar (USDP)

**Peg:** US Dollar

**Backing:** Real-World Asset Backed

**Governance:** Centralized (CeFi)

**Status:** active

## Overview

Paxos's USDP carries a B safety grade, backed by 100% very-low-risk reserves split across short-dated {{term:treasury}}T-bills{{/term}}, overnight repos, and FDIC-insured cash under a KPMG-attested OCC National Trust Charter that supplies institutional {{term:custody}}custody{{/term}} and monthly {{term:attestation}}attestations{{/term}}. The peg itself is essentially flawless and the resilience profile is top-tier, so the gap between those marks and the overall grade lives almost entirely in liquidity, which sits at a middling B- and remains the asset's perennial soft spot. Supply has gone nowhere for weeks in the low tens of millions, which keeps USDP a proof of concept more than a product — Paxos's real business is white-labeling stablecoin infrastructure for PayPal, Global Dollar Network, and formerly Binance. The depeg events on record betray the thinness of those earlier markets rather than any backing failure. The current package is still the strongest compliance-to-reserves story in the sub-$100M tier, with zero-fee {{term:redemption}}redemption{{/term}} as the structural floor under a token almost nobody actually holds.

## Collateral

Cash in FDIC-insured bank accounts and U.S. Treasury bills (including overnight reverse repos and T-bill money market funds) held in segregated, bankruptcy-remote accounts

## Peg Mechanism

Direct 1:1 redemption through Paxos

## Jurisdiction

| Country | Regulator | License |
| --- | --- | --- |
| United States | OCC | National Trust Charter |

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0x8e870d67f660d95d5be530380d0ec0bd388289e1` | 18 |
| solana | `HVbpJAQGNpkgBaYBZQBR1t7yFdvaYVp2vCQQfKKEN4tM` | 6 |
| bsc | `0xb7f8cd00c5a06c0537e2abff0b58033d02e5e094` | 18 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/usdp-paxos.