Paxos releases first USDG verification report: As of the end of October, the number of Ethereum network tokens was 10,750,140
Paxos, the stablecoin issuer, has released its first USDG attestation report, which reveals that as of 5pm Singapore time on October 31, 2024, the number of tokens held in the USDG contract on the Ethereum network was 10,750,140. The fair value of the redemption assets is at least equal to or greater than $10,750,140, and the number of USDG tokens does not exceed the redemption asset balance in this report. USDG is a Singapore-compliant stablecoin launched by Paxos in collaboration with DBS Bank, which is responsible for managing US dollar reserves.
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