Paxos releases USDP transparency report for November: total outstanding circulation rose to approximately US$446 million

Paxos officially released the November Pax Dollar (USDP) transparency report, which disclosed the unaudited financial data of USDP as of 6:00 on December 1, Beijing time, mainly including: 1. Total Tokens Outstanding is approximately US$446,640,157, an increase of nearly US$8 million compared with October; 2. The current market value of U.S. Treasury bonds is approximately $148 million; 3. The current market value of the collateral in the U.S. Treasury reverse repurchase agreement (overnight maturity and over-collateralization) is approximately US$112 million, and the nominal position value of the collateral provided is approximately US$110 million; 4. Cash deposits through the FDIC deposit network exceed US$185 million, and other cash deposits of insured depository institutions are approximately US$4.25 million. Paxos said a U.S. Treasury reverse repurchase agreement is a contractual arrangement between two parties in which one party agrees to sell a security to another party at a specified price and promises to buy the security back later at another (usually higher) specified price. If a counterparty defaults, Paxos is able to liquidate U.S. Treasury collateral to cover losses, and since all trades are overcollateralized, the risk of loss is not considered material.