🚀 Paxos To Release First Attestation Report For Singapore Compliant Stablecoin USDG
#Paxos #USDG #Stablecoin #Singapore #AttestationReport #DBSBank #FinancialTransparency #EnromeLLP
According to PANews, Paxos has announced on its official website that it plans to release the first attestation report for the Singapore compliant stablecoin USDG, developed in collaboration with DBS Bank, in November 2024. Paxos stated that the attestation report will be issued by the independent third-party accounting firm Enrome LLP, following the standards set by the Institute of Singapore Chartered Accountants. Paxos aims to build community trust and ensure complete transparency and reliability of financial data through this initiative. The company also mentioned that subsequent attestation reports will be published monthly.#Paxos #USDG #Stablecoin #Singapore #AttestationReport #DBSBank #FinancialTransparency #EnromeLLP
🚀 Paxos Releases First USDG Attestation Report
#Paxos #USDG #AttestationReport #Stablecoin #Ethereum #DBSBank #Singapore #Crypto
According to PANews, Paxos, a stablecoin issuer, has released its inaugural attestation report for USDG. The report reveals that as of 5 PM 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 compliant stablecoin in Singapore, launched through a collaboration between Paxos and DBS Bank. DBS Bank is responsible for managing the U.S. dollar reserves backing the stablecoin.#Paxos #USDG #AttestationReport #Stablecoin #Ethereum #DBSBank #Singapore #Crypto
🚀 Paxos Releases Second USDG Attestation Report
#Paxos #USDG #Stablecoin #AttestationReport #Ethereum #DBSbank #Cryptocurrency #Singapore
According to PANews, stablecoin issuer Paxos has released its second attestation report for USDG. The report reveals that as of November 29, 2024, on the Ethereum network, the number of USDG tokens held in contracts increased to 29,386,864, marking an issuance of 18,636,724 tokens since the end of October. The fair value of redeemable assets is at least equal to or greater than $29,467,869, ensuring that the number of USDG tokens does not exceed the balance of redeemable assets reported.
Additionally, USDG is a compliant stablecoin in Singapore, launched in collaboration with DBS Bank. DBS Bank is responsible for managing the U.S. dollar reserves backing the stablecoin.#Paxos #USDG #Stablecoin #AttestationReport #Ethereum #DBSbank #Cryptocurrency #Singapore
🚀 🔥 First Digital Responds to Allegations, Emphasizes Security of $FDUSD Backing 🔥
#FirstDigital #FDUSD #Security #USBacked #TreasuryBills #LegalAction #AttestationReport
In response to recent allegations, First Digital posted on their X account to affirm the security and safety of every dollar backing $FDUSD. Thye highlighted that all funds are fully accounted for with U.S.-backed Treasury Bills."Every dollar backing $FDUSD is completely, secure, safe and accounted for with US backed T-Bills. The exact ISIN numbers of all of the reserves of FDUSD are set out in our attestation report and clearly accounted for," stated First Digital.Additionally, First Digital indicated their intention to pursue legal action to protect their rights and reputation. They also shared a link to the attestation report.#FirstDigital #FDUSD #Security #USBacked #TreasuryBills #LegalAction #AttestationReport