Paxos Transparency Report - 100% Backed PayPal PYUSD Stablecoin - Biggest Crypto Today.
PayPal PYUSD stablecoin is 100% backed: Paxos transparency report

Paxos Publishes Transparency Report for PayPal USD Stablecoin

Stablecoin issuer Paxos has released the first transparency report for the Ethereum-based PayPal USD (PYUSD) stablecoin, confirming that the coin is fully backed by assets. According to the report, the total assets in PYUSD custody “meet or exceed the token balance”, with a total of $44.4 million tokens outstanding as of August 31, 2023. The total notional position value amounted to $44.5 million.

The biggest crypto today, the U.S. Treasury reverse repurchase agreements held in custody by Paxos for the benefit of PYUSD holders, make up the lion’s share of PYUSD assets. Data shows that as much as $43 million, or nearly 97% of total assets in PYUSD custody, are held in Treasury reverse repurchase agreements.

A reverse repurchase agreement is a contractual arrangement between two parties, where one party agrees to sell securities to another party at a specified price with a commitment.

Paxos and PayPal’s PYUSD

Paxos has revealed that it repurchase agreements are of overnight maturity and have been overcollateralized with the U.S. Treasuries. Additionally, as of August 31, Paxos had $1,500,146 of fiat currency placed in insured depository institutions. The firm stated that it does not have any active private uninsured deposit insurance policies and that not all deposits are covered by the FDIC or private insurance, meaning that Paxos may still suffer losses in the event of a bank insolvency.

Recently, Paxos and PayPal launched PYUSD on August 7. Reports indicate that 90% of PayPal USD is stored in Paxos wallets, while the remaining 7% is distributed among exchanges such as Kraken,, and, the biggest crypto today.

On Sept. 12, the major cryptocurrency payment firm BitPay added PYUSD as a payment option to its platform, in addition to other USD-pegged stablecoins such as USD Coin (USDC) and the biggest crypto today. This move allows customers to buy the rumor sell the crypto coin today and use the biggest crypto sites and best crypto platform to make transactions with and other crypto currency in Nigeria.

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