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
Bitget donates HK$12 million to support fire rescue and reconstruction efforts in Tai Po, Hong Kong
Bitget Spot Margin Announcement on Suspension of ELX/USDT Margin Trading Services
Enjoy perks for new grid traders and receive dual rewards totaling 150 USDT
Bitget Spot Margin Announcement on Suspension of BEAM/USDT, ZEREBRO/USDT, AVAIL/USDT, HIPPO/USDT, ORBS/USDT Margin Trading Services
