Mint and Redeem Paxos Issued Stablecoins (2024)

FAQs

How do I redeem Paxos? ›

Redeem for Physical: You may redeem for a Physical gold bar by initiating a sell request through the Paxos wallet dashboard on the PAX Gold page. For redemption of PAXG into Gold Bars, you will need to have a minimum of 430 PAXG plus fees given that London Good Delivery gold bars range from 370-430oz.

Paxos Stablecoins. Digital dollars that always equal a dollar. Regulated. Highest industry standards. Paxos stablecoins – and their reserves – are subject to strict regulatory oversight by the New York State Department of Financial Services, meeting the highest standards of consumer protection.

The current value of 1 PAX is $1.00 USD.

Paxos (PAX) wallet

Manage your Paxos, Ethereum, XRP, Litecoin, XLM and over 1000 other coins and tokens.

Fortunately in United States, you can buy Paxos Standard on Coinbase's centralized exchange. Coinbase is the most trusted place for people and businesses to buy, sell, and manage Paxos Standard. It's quick and easy.

Paxos is an algorithm that enables a distributed set of computers (for example, a cluster of distributed database nodes) to achieve consensus over an asynchronous network. To achieve agreement, one or more of the computers proposes a value to Paxos.

Paxos is a regulated trust company, which provides an additional layer of security for USDP. The company is subject to strict regulatory oversight by the New York State Department of Financial Services, ensuring the highest standards of consumer protection.

With its blend of natural beauty and traditional charm, Paxos is a hidden gem waiting to be discovered. Whether you're ambling through an olive grove or enjoying lunch at a waterside taverna in a little fishing village, you can sure rely on a daily dose of real Greek culture on a holiday to the perfect island of Paxos.

Who uses Paxos? ›

It also offers settlement solutions for securities and commodities. Paxos clients include global enterprises PayPal, Credit Suisse, Societe Generale, StoneX and Revolut.

itBit exchange by Paxos is proud to have received SOC 2 Type 2 certifications, demonstrating that itBit is a best in class crypto trading platform with the controls to effectively support enterprise customers.

For US customers, Paxos services are available across all 50 states. Paxos is consistently looking for ways to meet the demands of our customers.

It is also regulated and approved by the New York State Department of Financial Services. Within three months of being issued Pax Dollar achieved $5 billion in transactions, and as of 2023, it is the 54th largest cryptocurrency by market capitalization, with a market cap of $875 million.

Paxos was founded by Charles Cascarilla and Rich Teo in 2012 with the launch of its itBit crypto exchange platform in Singapore.

Redeemability of Pax Gold

Through the Paxos crypto platform, the pax gold token is redeemable, meaning that it can be converted into fiat currency, physically allocated gold, and unallocated gold.

In general terms, Paxos selects a single value from one or more of the values that are proposed, and then broadcasts that value to all of the cooperating computers. Once the Paxos algorithm has run, all of the computers (or database nodes)) agree upon the proposed value, and the cluster clocks forward.

Paxos is subject to strict regulatory oversight by the New York State Department of Financial Services (NYDFS), meeting the highest standards of consumer protection.