USDP (Pax Dollar) is Paxos's NYDFS-regulated stablecoin, fully backed 1:1 by cash and short-duration US Treasuries with monthly attestations.
USDP is issued by Paxos. Every USDC → USDP swap on 4SIGHT is quoted on every connected venue at once; you always see the worst case you'll receive, and often get more.