Paxos releases USDP July third-party report, supply does not exceed redeemable
Paxos has released a third-party report on USDP in July, published by Withum. The report reveals that the token supply of Pax Dollar (USDP) represented by the contract 0x8e870d6...89e1 on the Ethereum network is 114,706,089. Paxos holds cash and debt instrument assets fully trusted and explicitly guaranteed by the US government in custody accounts in the US, with a fair value of at least 114,706,089 US dollars. (The same is true for tokens on the Solana network). The supply of USDP does not exceed the balance of redeemable assets and complies with the rules stipulated by the NYDFS regulatory agency in New York.
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