The founders of Paxos Standard (PAX) claim that it is a real “digital USD” on the cryptocurrency market. This stablecoin is backed 1:1 for the American dollar and allows fast USD / PAX exchange. This cryptocurrency was released by the Paxos Trust Company, which ensures that the PAX funds are reliable, regulated and controlled. The main PAX goal is to strengthen the stability of USD with the blockchain technology. Like other stable coins, such as the USDC, PAX seeks to combine the long-standing stability and reliability of the US dollar with the benefits of a digital currency and its underlying technology.