Paxos USDP April Transparency Report: Total outstanding tokens are approximately $148 million
Paxos has released the transparency report for Pax Dollar (USDP) in April, which discloses unaudited financial data of USDP as of May 1, 05:00 Beijing time, including:1. Total Tokens Outstanding is approximately $148,503,536;2. The total amount of US Treasury repurchase agreements providing collateral with a current market value of $34,223,040 and a nominal position value of $33,552,000;3. Cash deposits of $110,503,693 through the FDIC deposit network and other cash deposits of approximately $5,049,428 held by custodial institutions;4. The current market value of the total net assets providing collateral is $149,776,161, with a nominal position value of $149,105,121. Paxos stated that the US Treasury repurchase agreement is a contractual arrangement between two parties, in which one party agrees to sell securities to the other party at a specified price and promises to buy back the securities at another (usually higher) specified price later. If the counterparty defaults, Paxos can liquidate the US Treasury collateral to make up for the loss. As all transactions are over-collateralized, the risk of loss is not considered significant.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Is XRP Being Used for all US Federal Reserve Transactions? Fact Check
Thailand seizes 63 illegal crypto mining rigs that stole over $327k in electricity
Crypto Sniper Incurs $465K in Losses on $XZY Token within 1 Hour
Expert Says Holding Just 1,000 XRP Could Be the Best Financial Decision of Your Lifetime
Trending news
MoreCrypto prices
More








