TechFlow news: Paxos recently released the first transparency report for PayPal's dollar-pegged stablecoin PYUSD, disclosing unaudited data as of August 31 Eastern Time. The report includes the following information:
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The total outstanding token amount is approximately $44.37 million.
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The current market value of collateral held in U.S. Treasury reverse repurchase agreements (RRPs) is $43.86 million, with a nominal position value of $43 million.
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The current market value of collateral held in other cash deposits at insured depository institutions is approximately $1.5 million.
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The current market value of collateral in total net assets is $45.36 million, with a nominal position value of $44.5 million.
Paxos emphasized that U.S. Treasury reverse repurchase agreements are bilateral contractual arrangements whereby one party agrees to sell securities to another party at an agreed price and commits to repurchase them later at another (typically higher) agreed price. In the event of counterparty default, Paxos has the ability to liquidate the U.S. Treasury collateral to cover losses. Since all transactions are over-collateralized, the risk of loss is not considered significant.
