Redeem

Deposit stablecoin and convert to USD. Transfer USD to your bank.

Redemption allows you to convert Paxos-issued stablecoins into USD and send the funds to your bank account. Follow the steps below to complete this process using the Convert option in the Dashboard.

Watch a demo

Who can do this

Only users with the Treasurer role can redeem stablecoins. View all roles and permissions.

What You’ll Do

Add a Fiat Account.
Convert a stablecoin to USD and transfer the funds to a bank account.

Before you begin

Note

Make sure you’ve deposited stablecoins via Dashboard > Deposit before starting a redemption.

Requirements

A verified Paxos account
A Treasurer role with the required permissions.

Supported Stablecoins and Networks

Asset	Supported Network
USDG	Ethereum, Solana
PYUSD	Ethereum, Solana
USDP	Ethereum

➊ Add Fiat Account

Before you can redeem stablecoins, you need to add a fiat account in the Paxos Dashboard.

Go to the Dashboard > Fiat Accounts
Click + Fiat Account in the top-right corner.
Select a network.
Enter account details.
Fill in recipient details.
Enter a mailing address.
Click Save.

tip

Use the Approvals functionality to require additional team members to review any new fiat accounts before they are saved. This avoids potential mistakes around incorrect information and adds an extra layer of security. Only approved fiat accounts can be used in the redemption process.

➋ Redeem Asset

Go to the Dashboard and click Convert in the top-right corner.
Select the Asset to redeem.
Choose the Source where the asset is located (a Profile or External Account/Wallet).
Select the Asset to receive.
Choose the Destination where the converted asset should go (a Profile or an External Account/Wallet).
Go to Transactions > Asset Movements or Transactions > Conversions to monitor activity.