$USDC USDP (Pax Dollar) is a stablecoin, a cryptocurrency designed to maintain a one-to-one parity with the US dollar. It operates on the Ethereum network as an ERC-20 token and is backed by reserve assets such as dollars, Treasury bonds, and cash equivalents.
Key features of USDP:
Stablecoin:
Its value remains relatively stable in relation to the dollar, making it an attractive option for transactions and storing value, especially in the world of cryptocurrencies.
Backing:
Each unit of USDP is backed by the equivalent in US dollars, Treasury bonds, and other liquid assets, which helps maintain its stability and credibility.
ERC-20 Token:
It operates on the Ethereum network, meaning it can be used in applications and platforms that support this token standard.
Various applications:
It can be used for payments, transfers, trading, lending, and other activities in the cryptocurrency ecosystem.
