Is this a retail exchange?

No. Accounts are KYB'd businesses and verified individuals. The only digital asset is USDT.

Orders match on Binance exchange nodes. Paypled publishes the resulting reference rate every second for accounting, then settles T+0 on your ledger.

Exchange

USDT books, on Binance nodes.

Spot USDT against USD and EUR. Matching runs on Binance exchange nodes; fills settle T+0 on the Paypled ledger. Maker-taker fees compress with volume. No leverage.

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USDT spot pairs: 2
maker from: 2 bps
internal settlement: T+0

Binance matching nodes

Orders route to Paypled’s colocated nodes on Binance. You see last, bid, ask from that book — not a synthetic mid.

Convert, don't gamble

Treasury conversions, payroll hedges, and inventory rebalancing in USDT. Leverage is not offered.

FIX and REST

FIX 4.4 for systematic flow. REST and WebSocket for the console and your own bots.

Net settlement

Trades net against your Paypled USDT and fiat balances. No gas, no bridging, no waiting on a chain.

Questions

Is this a retail exchange?: No. Accounts are KYB'd businesses and verified individuals. The only digital asset is USDT.
How is price formed?: Orders match on Binance exchange nodes. Paypled publishes the resulting reference rate every second for accounting, then settles T+0 on your ledger.