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

Paxos released a third-party report on USDP for July published by Withum, which disclosed that the token supply of Pax Dollar ("USDP") represented by the contract 0x8e870d67f660d95d5be530380d0ec0bd388289e1 on the Ethereum network is 114,706,089. Paxos holds cash and debt instrument assets in accounts at U.S. insured depository institutions with a fair value of at least $114,706,089 that are explicitly guaranteed by the full faith and credit of the U.S. government. (The same is true for Solana network tokens), and the USDP supply does not exceed the redeemable asset balance and complies with the guidelines set by the New York regulator NYDFS.