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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.
Pay with
USDP
Pay with
USDP
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 in Numbers
Market cap
Over 500 million USD in 2025
Adoption
Issuer
Paxos Trust Company
Network
Regulation
Use cases
Launch year
2018
Expected launch
Peg
1 USDP equals 1 USD
Backing
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, 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
What is USDP?
USDP, also known as Pax Dollar, is a stablecoin issued by Paxos and pegged 1:1 to the U.S. Dollar.
Is USDP safe to use?
Yes. USDP is issued by Paxos Trust Company, a regulated financial institution, and fully backed by cash and Treasuries.
How does USDP compare to PYUSD?
Both are issued by Paxos, but PYUSD is PayPal-branded, while USDP is Paxos’ own stablecoin.
Can I redeem USDP for cash?
Yes. USDP can be redeemed 1:1 for U.S. Dollars through Paxos.
Where can I spend USDP?
With Oobit, you can spend USDP anywhere Visa is accepted globally.
Is USDP regulated?
Yes. USDP is regulated by the NYDFS, making it one of the most compliant stablecoins available.
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—learn how the settlement flow works from wallet approval to merchant payout.
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