Paxos releases USDP transparency report for September: total amount in circulation exceeds US$480 million

15/10/2023 15:18

Odaily Planet Daily News According to the September Pax Dollar (USDP) transparency report released by Paxos, it disclosed the unaudited data of USDP as of 5:00 on September 30, Beijing time, including: 1. Total Tokens Outstanding is US$486,062,949; 2. The current market value of U.S. Treasury bonds is US$124,531,000, and the nominal position value is US$124,369,913; 3. The current market value of the collateral in the U.S. Treasury reverse repurchase agreement (overnight maturity and overcollateralization) is US$178,500,047, and the notional position value is US$175,000,000; 4. The current market value of collateral in cash deposits through the FDIC deposit network is US$185,500,000, and the current market value of collateral in other cash deposits of insured depository institutions is US$2,401,735, for a total of US$187,901,735. 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. Previous news, according to the PayPal U.S. dollar stablecoin PYUSD transparency report released by Paxos, as of September 29, 2023, the total number of PYUSD tokens in circulation was $94,396,540.

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