Digital dollars are dollars that exist online instead of in a bank account or as cash. At Sling Money, we use USDP (Pax Dollar) — a digital version of the U.S. dollar that always equals US$1.
When you add money to your Sling Balance, it’s converted into USDP so it can move instantly and securely between Sling users. If you’re outside of Europe, all transfers happen in USDP.
When you withdraw to your local bank account, we automatically convert your USDP back into your local currency.
Because USDP is a type of stablecoin (a digital currency backed 1:1 by U.S. dollars), its value stays the same — one digital dollar will always be worth one real dollar.