Paxos Reveals PayPal Stable Coin PYUSD Is Backed By Treasury And Cash Reserves

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Paxos, the issuer of PayPal Holdings Inc (NASDAQ: PYPL) stablecoin, PYUSD, stated in a transparency report that the PYUSD is supported by cash reserves and U.S. Treasury reverse repurchase agreements. As of Aug. 31, $45.36 million is backed in Treasury securities, out of which $1.5 million is in cash reserves. The report highlights that repurchase agreements are characterized by “overnight maturity with reputable financial institutions and over-collateralization with U.S. Treasuries.” Find out more statistics on the other available tokens! Meet and engage with transformative Fintech business l…

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