Paxos, the issuer of PayPal’s stablecoin, PYUSD, has published a transparency report. As of 31 August 2023, the PYUSD token appears to be backed by $45.36 million in reserve.
PayPal (PYUSD) stablecoin and the transparency report
The issuer of PayPal’s stablecoin, Paxos, released a transparency report to reveal the reserves supporting PYUSD. From what has emerged, PYUSD is backed by cash reserves and US Treasury reverse repurchase agreements.
Not only that, as of 31 August 2023, PayPal’s stablecoin appears to be backed by as much as $45.36 million backed by Treasury securities and of which $1.5 million is backed by cash reserves.
In this regard, Paxos states:
“As all trades are overcollateralized, the risk of loss is not deemed to be material.”
In addition, PYUSD’s issuer of PayPal, also mentions in the report the collaboration with BMO Harris Bank, Customers Bank, and State Street Bank.
PYUSD has been operational for 39 days, with about 44,376,440.45 PYUSD in cir
We współpracy z: https://en.cryptonomist.ch/2023/09/15/paypal-pyusd-stablecoin-transparency-report/
