USDP Stablecoin price is $0.86805300
The current price of the USDP Stablecoin is $ 0.86805300.
USDP Stablecoin is a digital cryptocurrency that aims to maintain a stable value compared to specific benchmark or 'stable' financial assets, like the U.S. Dollar. It belongs to a group of cryptocurrencies known as stablecoins that are often pegged to certain fiat currencies. The value of one USDP is generally kept equivalent to 1 USD.
USDP Stablecoin was created by Paxos, a regulated financial institution building infrastructure to enable movement between physical and digital assets. The motivation behind the creation of USDP was to provide a stable and secure digital equivalent of the US dollar that can be easily moved globally, is free from the volatility often associated with other cryptocurrencies and can be redeemable for cash.
USDP stands out from other cryptocurrencies due to its stable nature. Unlike other digital coins, its value isn't significantly affected by sudden market changes. This is because each USDP is backed by a real US dollar, held in reserves by Paxos. It merges the stability of fiat currencies with the benefits of digital currencies, like ease of transfer, immediacy and round-the-clock availability.
As a stablecoin created and maintained by a regulated financial institution, USDP employs strict security measures. This include regular audits to ensure each USDP is adequately backed, and adherence to regulatory standards for consumer protection. The underlying technology for USDP Stablecoin is also designed to be secure and robust, preventing hacking attempts and fraudulent transactions.
The current circulating supply of USDP Stablecoin is 2.6M.
Given the nature of USDP as a stablecoin, its price doesn't fluctuate wildly. The price change over the last 24 hours is +0.00%, showing a increased.
USDP Stablecoin can be purchased from any of the where it is currently available. As it is managed by a regulated financial institution, purchasing USDP from these platforms tends to be secure and safe.
USDP Stablecoin can be stored in any digital wallet that supports ERC-20 tokens. However, the security of your funds depends on the individual practices employed to protect your wallet, such as using robust passwords, enabling two-factor authentication, and not sharing sensitive information.
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