PDAX Lists $USDG: What You Need to Know About the Paxos-Backed Stablecoin

The locally licensed crypto platform Philippine Digital Asset Exchange (PDAX) recently announced the listing of $USDG, a U.S. dollar-backed stablecoin

output: Philippine cryptocurrency exchange, Philippine Digital Asset Exchange (PDAX), has announced the listing of USDG, a U.S. dollar-backed stablecoin created by blockchain company Paxos. The listing expands PDAX's token selection to over 50.

The stablecoin, which is designed to maintain a 1:1 peg to the U.S. dollar for minimal price volatility, is issued by Paxos Digital Singapore Pte. Ltd. It is fully redeemable for U.S. dollars and operates within a transparent framework with verifiable reserves.

It is also backed by major financial technology and cryptocurrency firms such as Robinhood, Kraken, and Galaxy Digital.

How to Buy $USDG on PDAX

To buy USDG on PDAX, follow these simple steps:

Log in to your PDAX account and make sure it is funded with pesos.

Once the funds are in the account, go to the order book platform.

Find the USDG <> PHPT pair.

Enter the amount of USDG you want to buy and click “Buy”.

Review the transaction details and click “Convert”.

Finally, confirm your purchase.

Stablecoins on PDAX

PDAX currently lists two stablecoins: Tether (USDT) and USDG. Both stablecoins are designed to maintain a stable value and are typically used as a means of exchange or to hedge against volatility in the broader cryptocurrency market.

The exchange is also planning to list more stablecoins in the coming months as part of its efforts to provide a wider variety of products and services to its users.

Latest PDAX News

Recently, PDAX partnered with Coinbase Wallet and Base to expand on-chain access for Filipinos, enabling users to take full control of their digital assets, explore DeFi and NFTs, and benefit from lower transaction fees.

Last year, the Bureau of the Treasury, in partnership with PDAX and GCash, announced the launch of GBonds in December 2024 to make government-issued bonds more accessible to retail investors.

This article is published on BitPinas: PDAX Adds USDG: What You Need to Know About the Paxos-Backed Stablecoin