Paxos September 2024 PYUSD Transparency Report Reveals Key Data

Paxos Releases September 2024 PYUSD Transparency Report

In an important update for investors and users of the PYUSD stablecoin, Paxos has published its September 2024 PYUSD transparency report. This report, which includes unaudited data as of August 31, 2024, at 05:00 UTC+8, provides a comprehensive overview of the current state of PYUSD and its collateral assets.

Key Highlights of the PYUSD Report

• Total Tokens Outstanding: Currently stands at $709,794,225.
• Market Value of Collateral in U.S. Treasury Securities: Approximately $111,598,980 with a nominal position value around $110,718,542.
• Market Value of Collateral in U.S. Treasury Reverse Repurchase Agreements: Stands at about $585,329,040, with a nominal position value of approximately $573,852,000.
• Cash Deposits Market Value: Currently valued at $23,224,383, which aligns with the nominal position value.
• Total Net Assets' Collateral Market Value: Approximately $720,152,403 against a nominal position value of around $707,794,925.

Understanding PYUSD and Its Structure

PYUSD, a stablecoin backed by U.S. dollars and high-quality assets, aims to provide stability in the cryptocurrency market. The report is part of Paxos' commitment to transparency, ensuring that users have access to information regarding the financial health of their stable coin.

Conclusion

Paxos' transparency report for September 2024 reveals a solid backing of PYUSD, showcasing the company’s commitment to maintaining trust and security in its digital financial products. For more detailed insights about cryptocurrency and stablecoins, check our related articles on cryptocurrency trends and stablecoin reviews.