USD PAX (PAX) is a stablecoin, which means that its price is tied to the price of USD: 1 PAX = 1 USD in value. The USD value of PAX never fluctuates. Despite this, PAX is an ERC20 token, and not a fiat currency issued by a government. For this reason, there is no way to transfer USD PAX to a bank account.
Our users who buy and sell bitcoin through our partners Coinify (for the SEPA region) can Swap USD PAX for bitcoin and then sell it for their regional fiat currency. You can also Swap PAX for any other cryptocurrency supported in the Blockchain Wallet.
If you want to exchange USD PAX directly for fiat currency, you will need to send your PAX balance to another exchange that supports Paxos Standard Token (PAX).