PAX is short for Paxos Standard, which is the world's first regulated crypto asset. The Paxos Standard token is fully collateralized 1:1 by the U.S. dollar, issued by the Paxos Trust Company, and approved and regulated by the New York State Department of Financial Services.
Built on the Ethereum blockchain, it offers the benefits of crypto-assets such as immutability and decentralized accounting. Since it is fully collateralized by dollars, Paxos Standard offers a liquid, digital alternative to cash that is available 24/7 for instantaneous transaction settlement and is fully redeemable. As a Trust company, Paxos is a fiduciary and qualified custodian of customer funds, and can therefore offer greater protections for customer assets than any other existing stablecoin.
English Name: PAX/Paxos Standard
Encryption Algorithm: Ethash
Consensus Method: PoW
Official Website: https://www.paxos.com/standard
Blockchain Explorer: https://etherscan.io/token/0x8e870d67f660d95d5be530380d0ec0bd388289e1