Pax Dollar Usdp Price USD

Pax Dollar is a flat-collateralized stablecoin that was launched in September of 2018. Stablecoins are cryptocurrencies meant to reduce the volatility of the stablecoin's price compared to a certain stable asset or a basket of assets.

A stablecoin may be linked to another cryptocurrency or to flat money. In certain circumstances, it can even be traded for commodities. Pax Dollar provides the advantage of trading with blockchain assets while minimising price risk. The Pax Dollar tokens (USDP) are produced as ERC-20 tokens on the Ethereum blockchain and are collateralized 1:1 by USD stored in Paxos-owned US bank accounts.

Charles Cascarilla and Rich Teo are the inventors of the Pax Dollar.

Paxos's CEO and co-founder is Charles Cascarilla. In addition, he founded the Association for Digital Asset Markets (ADAM) and serves as a founding partner of Liberty City Ventures.

Along with co-founding and holding a partner position at Cedar Hill Capital Partners, he has already had positions as a portfolio manager at Claiborne Capital Management, an analyst at Goldman Sachs as well as an analyst at Bank of America respectively. 

The other founding member of Paxos is Rich Teo. Before that, he worked at Cedar Hill Capital Partners as a principal and senior analyst. He has worked as a financial analyst for Citi and as a combat signaler for the Singapore Armed Forces.

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