Paxos stablecoins (PAX, BUSD, HUSD) are backed 1:1 by the US dollar and reserves are held in US Treasury bills and FDIC-insured banks. You can send your stablecoins anywhere, anytime, unlike dollars in a bank. Users also have more safety and security of their dollars by holding stablecoins as they can redeem their stablecoins for dollars anytime with no fees or limits. This is especially important when people feel their assets may be insecure. Because Paxos stablecoins are regulated and Paxos is a Trust company, assets are safer with Paxos than anywhere else.