Stablecoin

2024

PayPal USD

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/paxos-publishes-transparency-report-on-paypal-usd-stablecoin/" data-wpel-link="internal">Paxos Publishes Transparency Report on PayPal USD Stablecoin</a> 
Paxos, the online payment giant PayPal’s stablecoin pegged to the US dollar, PayPal USD (PYUSD), released its transparency report for September 2024. The recently published report provides detailed insights into the financial status and asset distribution of PYUSD as of August 31, 2024. The report emphasizes that the reserves backing PYUSD are secured, while also indicating a decrease in the total token supply. 
<h2 style="text-align: justify" id="strong-circulating-supply-of-stablecoin-declines-with-market-conditions-strong">Circulating Supply of Stablecoin Declines with Market Conditions</h2> 
According to the report, there are currently 709.79 million dollars worth of PYUSD in circulation. Paxos stated that the total amount of PYUSD tokens is fully backed by assets. 
The overall circulating supply of the stablecoin has declined compared to previous reports, with experts attributing this decrease to market conditions. 
<h2 style="text-align: justify" id="strong-asset-distribution-and-secured-reserves-strong">Asset Distribution and Secured Reserves</h2> 
The report also details Paxos’s asset structure. It reveals that there are US Treasury bonds valued at a total market value of 111.59 million dollars within the reserves, with a nominal value reported at 110.71 million dollars. Additionally, there are US Treasury repurchase agreements valued at 585.32 million dollars, with a nominal position value of 573.85 million dollars. Paxos noted that these agreements are collateralized and can be liquidated in case of counterparty default. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-396791" src="https://coin-turk.com/wp-content/uploads/2024/10/Stablecoin-PYUSD.jpg" alt="" width="1686" height="1128"> 
Moreover, the reserves include cash valued at 23.22 million dollars, with some of this amount insured by the Federal Deposit Insurance Corporation (FDIC). The total market value of the assets reaches 720.15 million dollars, while the total nominal value is reported as 707.79 million dollars. 
The report indicates that PayPal maintains its commitment to transparency regarding PYUSD, showcasing that the stablecoin has a reliable reserve structure despite market conditions. The collateralized assets of PYUSD users provide security against potential market fluctuations. In contrast, <a href="https://en.coin-turk.com/usdt-achieves-historic-high-market-value-amidst-volatility-in-the-crypto-ecosystem/" data-wpel-link="internal">Tether</a>‘s stablecoin, USDT, remains in the spotlight due to ongoing transparency debates, occasionally raising various concerns within the stablecoin market, which serves as a driving force for the <a href="https://en.coin-turk.com/chris-burniske-predicts-major-rally-for-bitcoin-ethereum-and-solana/" data-wpel-link="internal"></a><a href="https://en.coin-turk.com/analysts-question-the-value-of-tracking-crypto-whales/" data-wpel-link="internal">cryptocurrency</a> market. 
The post <a href="https://en.coin-turk.com/paxos-publishes-transparency-report-on-paypal-usd-stablecoin/" data-wpel-link="internal">Paxos Publishes Transparency Report on PayPal USD Stablecoin</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Paxos Publishes Transparency Report on PayPal USD Stablecoin

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