Buy Pax Dollar in Australia

Pax Dollar

Past performance is not indicative of future results. All prices are sourced from CoinJar Indices.
USDP price calculator


StablecoinAsset type
2018Active since

What is Pax Dollar?

Pax Dollar is a US-dollar pegged stablecoin built on the Ethereum network. At all times the value of a single USDP token is tied to one US dollar, hence the term stablecoin. For every USDP in existence, Paxos guarantees that there is one US dollar sitting in their reserves. USDP is, in essence, a tokenised dollar, permitting holders to make transactions on the crypto markets as if they were using actual US dollars. Paxos is different from other stablecoins in that they also allow other companies to use USDP to create and brand their own stablecoins. For instance, PayPal’s stablecoin PYUSD is built on USDP.

How does USDP maintain its value?

USDP maintains its value by purporting to back each token 1:1 with US dollars held by Paxos Trust Company, LLC on the holder’s behalf. The US dollars used to purchase USDP are either deposited in US FDIC-insured depository banks or used to purchase debt instruments that are expressly guaranteed by the full faith and credit of the United States Government and/or money-market funds composed of such debt instruments.

Monthly attestations are conducted to ensure that for every USDP in circulation, there is a corresponding US dollar or debt instrument in reserve. Learn more:

What risks should I be aware of when purchasing USDP?

Paxos must comply with any legal directive to freeze, temporarily or permanently, user access to USDP or the US dollars backing the USDP with or without advance notice. USDP tokens or the underlying US dollars may be subject to seizure or forfeiture by formal written legal directive from a regulator, judicial body, law enforcement agency, or other legal entity having jurisdiction over Paxos.

Paxos also has the right to refuse redemption of USDP at its sole discretion.

Paxos releases monthly attestations reports issued by WithumSmith+Brown, PC, an independent third-party accounting firm, which contains USDP’s attestations about their consolidated assets and liabilities. Customers should note that this is not the equivalent of a full independent audit report on Paxos’ reserves. Learn more:


Cash, credit or crypto?

Buy Pax Dollar instantly using Visa or Mastercard. Get cash in your account fast with bank transfer, PayID or Osko. Convert crypto-to-crypto with a single click.

How to buy Pax Dollar with CoinJar

Start your portfolio with Australia's longest running crypto exchange with these simple steps.
Step oneSign up to CoinJarGet the CoinJar app on iOS or Android, create an account and verify your ID.
Step twoDeposit funds Transfer funds from your bank account using bank transfer, PayID, Osko, Wire Transfer, SEPA or Faster Payments.
Step threeBuy your first cryptoBuy Bitcoin and almost 50 other cryptos using cash or credit card.
Get the CoinJar app
App store
App Store Rating - Apple
App store
App Store Rating - Google (UPDATED).svg
AppReviews logo
Trustpilot ratings 4 star
TrustScore 4.2 |Trustpilot

Blockchain Australia's 2023 Blockies Awards Winner

CoinJar won the Digital Currency Exchange of the Year Award at The Blockies! Read our blog to learn why Blockchain Australia chose us over the competition.See why Blockchain Australia chose CoinJar

Featured In



CoinJar Card

CoinJar Card lets you spend your crypto like cash, online and in-store – with both Apple Pay and Google Pay™. It’s free to set up, has no monthly fees and you earn CoinJar Rewards every time you spend.Get your free CoinJar Card

CoinJar App

All-in-one crypto wallet
Buy, sell, send and even spend your crypto with Australia’s favourite cryptocurrency app.Get the CoinJar app

Trade your local currency

Trade BTC, ETH and 50 of the world's leading cryptocurrencies using AUD, USD, EUR and GBP stablecoins.Start trading

CoinJar Bundles & DCA

Invest in themed baskets of crypto with CoinJar Bundles. Pick your Bundle in the CoinJar app and dollar buy, sell, rebalance, unbundle and dollar cost average your assets with ease. Use Recurring Buy to set up automated weekly, fortnightly, or monthly purchases at your chosen rate.See all Bundles

CoinJar Exchange

With one of the fastest matching engines in the world, CoinJar Exchange is purpose-built for institutions, market makers and professional traders. Features global liquidity, ultra-thin spreads and some of Australia’s most competitive fees.Explore CoinJar Exchange

Check out these other popular cryptos

Open your CoinJar
App storeApp store

Your information is handled in accordance with CoinJar’s Collection Statement.

CoinJar’s digital currency exchange services are operated by CoinJar Australia Pty Ltd ACN 648 570 807, a registered digital currency exchange provider with AUSTRAC.

CoinJar Card is a prepaid Mastercard® issued by EML Payment Solutions Limited ABN 30 131 436 532 AFSL 404131 pursuant to license by Mastercard. CoinJar Australia Pty Ltd is an authorised representative of EML Payment Solutions Limited (AR No 1290193). We recommend you consider the Product Disclosure Statement and Target Market Determination before making any decision to acquire the product. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.

Google Pay is a trademark of Google LLC. Apple Pay and Apple Watch are trademarks of Apple Inc.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

CoinJar logo
CoinJarGet the app.