USDP

USDP Stablecoin. What Is Pax Dollar and How to Use It

USDP, also known as Pax Dollar, is a U.S. Dollar-backed stablecoin issued by Paxos Trust Company. Pegged 1:1 to the U.S. Dollar, USDP was one of the first regulated stablecoins in the market and remains a trusted option for transparent, compliant digital payments.

With Oobit, you can use USDP instantly to pay anywhere Visa is accepted worldwide.

What is USDP?

USDP is a fiat-backed stablecoin launched in 2018 by Paxos. Each USDP is backed by cash reserves and U.S. Treasury bills, held with regulated custodians. As a fully regulated entity under the New York State Department of Financial Services (NYDFS), Paxos ensures that USDP is always redeemable 1:1 for U.S. Dollars.

Why USDP is Important

USDP is important because it set an early standard for regulated stablecoins. Backed by a licensed trust company, it provides peace of mind to users and institutions that value transparency and compliance. It also forms the backbone for other stablecoin projects, as Paxos is the issuer behind PayPal’s PYUSD and previously supported Binance’s BUSD.

How USDP Works

Like other fiat-backed stablecoins, USDP is minted when users deposit U.S. Dollars with Paxos. These tokens circulate on blockchain networks and can be redeemed 1:1 for fiat at any time. Paxos publishes monthly attestations to verify that reserves match the total supply of USDP, ensuring full backing and trust.

Risks of USDP

While USDP is highly regulated, risks still exist. Changes in U.S. regulatory frameworks could affect issuance and redemption. USDP also faces adoption risks, as it competes with larger stablecoins like USDT and USDC for liquidity and usage. Finally, reliance on Paxos as a centralized issuer means users must trust a single institution to maintain reserves and operations.

USDP
USDP in Numbers
Market cap

Over 500 million USD in 2025

Adoption
Issuer

Paxos Trust Company

Regulation
Use cases
Launch year
2018
Peg
1 USDP equals 1 USD
User-experience perfection.
Oobit + $USDt for payments in real-life.
Paolo Adriano
CEO of Tether
Thanks to Oobit anyone can now pay with Bitcoin Cash, Bitcoin, Tether, Ethererum and other Crypto anywhere in the world that accepts Visa or Mastercard, right from their smart phone.
Roger Ver
Bitcoin Jesus
Real-Life Payment Integration:
BNB Chain is teaming up with Oobit to enable everyday purchases, like buying coffee, with stablecoins, making crypto transactions more practical and affordable.
BNB Chain
CEO of Tether
How crypto should be- digital cash, instant and helping the unbanked. Tap and Pay for everyday things in-store with your $VET knowing it has a significantly low carbon footprint.
Sarah Nabaa
VeChain foundation
TON x Oobit Use TON and USDt-TON with 100M+ retailers across the globe!
Just like Apple Pay®, the Oobit app allows you to shop, grab a coffee, then Tap & Pay with $USDt-TON & $TON.
TON

USDP

 FAQ

What is USDP?
Is USDP safe to use?
How does USDP compare to PYUSD?
Can I redeem USDP for cash?
Where can I spend USDP?
Is USDP regulated?

How to Use USDP with Oobit

With Oobit, USDP becomes spendable anywhere. You can tap and pay in stores wherever Visa is accepted, make online purchases through Apple Pay and Google Pay, and cash in or cash out via supported payment rails.

👉 Download Oobit and start spending USDP instantly.

Download Oobit