#MarketDownturn #BSCOnTheRise $XRP $BTC $ETH
According to PANews, Paxos, a stablecoin issuer, has released its inaugural USDG certification report. The report reveals that as of 5pm on October 31, 2024, Singapore time (UTC+8), the Ethereum network’s USDG contract held 10,750,140 tokens. The fair value of the redemption assets is at least equal to or greater than $10,750,140, ensuring that the number of USDG tokens does not exceed the reported redemption asset balance.
Previously, it was reported that USDG is a Singapore-based stablecoin, launched through a collaboration between Paxos and DBS Bank. DBS Bank is responsible for managing the USD reserves that back the stablecoin.
