USDP
Founded in September 2018, Pax Dollar (USDP) is a flat-collateralized stablecoin designed to minimize price volatility. It offers the benefit of blockchain asset transactions with reduced price risk. Issued as ERC-20 tokens on the Ethereum blockchain, USDP is collateralized 1:1 with the USD held in Paxos-owned U.S. bank accounts. This ensures that each USDP token has a corresponding dollar in reserve, providing stability and trust in the digital asset. By linking the traditional financial system with blockchain technology, Pax Dollar facilitates seamless and secure transactions, making it a valuable tool in the evolving landscape of digital finance.
Binance Futures to Introduce FDUSD Margin, Phase Out USDP
Binance Futures is set to support FDUSD as a margin asset, replacing USDP in Multi-Assets Mode, enhancing the platform's flexibility for users.
MakerDAO Keeps USDC as Primary Collateral for Dai
MakerDAO has voted to keep USDC as the primary collateral for Dai, rejecting a proposal to diversify into GUSD and USDP. The decision was made based on reduced risks from a cascading bank run in the US and USDC's return to a $1 peg.
Binance-Backed WazirX Exchange to Delist USDC, USDP & TUSD
Indian crypto platform WazirX has announced it will be delisting USD Coin (USDC), USDP, and TUSD in a move that is similar to its so-called parent company, Binance Exchange.
Bank of America Says Binance to Benefit from Increased Supply of Its Own Stablecoin
BAC has given more clarification on how Binance’s automatic conversion of other stablecoins could impact its business as well as its own BUSD stablecoin.
Binance to Convert Users’ USDC Into Its Own Stablecoin
Binance said the move aims to improve liquidity and capital efficiency for customers.
Facebook Taps Coinbase to Offer Custody Services for Novi Digital Wallet Rollout
Facebook is launching Novi digital wallet. The social giant has hired Coinbase to serve as a custody partner.