• Description: Paxos Standard (PAX) is a fiat-backed stablecoin pegged to the US Dollar (USD) on a 1:1 basis. It is issued by Paxos Trust Company, a regulated financial institution based in the United States. PAX operates on various blockchain networks, including Ethereum (ERC-20), Binance Smart Chain (BEP-20), and others.

• Collateralization: Each PAX token is fully backed by US Dollars held in reserve by Paxos Trust Company. The reserves are held in FDIC-insured banks and are regularly audited by independent third-party firms to ensure transparency and trustworthiness. PAX users can redeem their tokens for US Dollars at a 1:1 ratio with the underlying fiat currency.

• Regulatory Compliance: Paxos Trust Company is regulated by the New York State Department of Financial Services (NYDFS) and operates in accordance with applicable regulations and guidelines. PAX is designed to comply with regulatory standards and undergoes regular audits and attestations to ensure transparency and compliance with legal and regulatory requirements.

• Integration: PAX is supported by various cryptocurrency exchanges, wallets, and platforms, allowing users to easily deposit, withdraw, trade, and transfer PAX tokens. It is also integrated into decentralized finance (DeFi) protocols and applications, enabling users to access decentralized financial services using PAX.

• Transparency: Paxos Trust Company provides regular attestations and reports detailing the reserves backing PAX, as well as audits conducted by independent third-party firms. This transparency helps build trust among users and investors and ensures the stability and legitimacy of the stablecoin.

Paxos Standard (PAX) is a widely recognized and trusted stablecoin in the cryptocurrency market, offering users a reliable and transparent alternative to traditional fiat currencies within the digital asset ecosystem.