Paxos Standard is a type of cryptocurrency that is designed to maintain a stable value, typically pegged to the U.S. dollar. Each Paxos Standard token is backed by actual U.S. dollars held in reserve, ensuring that for every token issued, there is an equivalent amount of fiat currency available. This makes it a popular choice for traders and investors looking for stability in the volatile cryptocurrency market. Launched by Paxos Trust Company, Paxos Standard aims to combine the benefits of digital assets with the reliability of traditional currencies. It is fully regulated and compliant with U.S. laws, providing users with a secure and transparent way to transact in the digital economy.