PANews reported on December 1 that stablecoin issuer Paxos released its first USDG attestation report, which disclosed that as of 5 pm Singapore time on October 31, 2024, the number of tokens held by USDG contracts on the Ethereum network was 10,750,140, and the fair value of the redeemed assets was at least equal to or greater than US$10,750,140. The number of USDG tokens did not exceed the reported redemption asset balance.
According to previous news, USDG is a Singapore-compliant stablecoin launched by Paxos and DBS Bank, with DBS Bank responsible for US dollar reserve management .
