Paxos releases USDP July third-party report: Supply volume does not exceed redeemable asset balance

On August 27, Paxos announced the USDP third-party report for July released by Withum. The report disclosed that the token supply of Pax Dollar ("USDP") shown on the Ethereum network is 114,706,089. Paxos holds cash in U.S. custodial accounts and assets of debt instruments fully trusted and explicitly guaranteed by the U.S. government with a fair value at least equal to or greater than $114,706,089. (The same applies to Solana network tokens). The supply of USDP does not exceed redeemable asset balances and complies with guidelines set by New York regulatory agency NYDFS.