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Paxos Standard (PAX), an ERC-20 token backed one-to-one by US dollars, represents a bridge between traditional fiat and digital assets. It is issued by the Paxos Trust Company, a regulated financial institution in New York. PAX aims to combine the trust and stability of the dollar with the efficiency of blockchain technology. By maintaining dollar parity, PAX serves as a digital dollar that can be transacted globally and around the clock, contrasting with conventional banking systems’ time barriers. As a stablecoin, it is designed to improve the functionality of money, enabling seamless transactions across various asset classes while diminishing the typical volatility found in cryptocurrencies.
