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.