Paxos Releases First USDG Attestation Report

According to PANews, stablecoin issuer Paxos has released its inaugural attestation report for USDG. The report reveals that as of 5pm on October 31, 2024 Singapore time (UTC+8), the USDG contract on the Ethereum network held 10,750,140 tokens. The fair value of the buyback assets is at least equal to or greater than $10,750,140, ​​ensuring that the number of USDG tokens does not exceed the reported buyback asset balance.

Previously, it was reported that USDG is a Singapore-compliant stablecoin launched through a collaboration between Paxos and DBS Bank. DBS Bank is responsible for managing the US dollar reserves backing the stablecoin. #BSCOnTheRise