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Paxos Reports Record PYUSD Supply at Over 2.63 Billion Tokens

Paxos, via a KPMG assurance report, confirmed PYUSD circulation hit a record 2.64 billion tokens with collateral exceeding supply, reflecting 125.5% growth since August.

PYUSD

Summary

Paxos issued an official announcement, supported by a KPMG assurance report, revealing PYUSD stablecoin circulation reached 2,638,336,904 tokens on October 15, the highest on record. Redeemable collateral totaled $2.65 billion, surpassing token supply and marking a 125.5% increase from August’s 1.17 billion tokens over two months.

Terms & Concepts
  • Stablecoin: A cryptocurrency pegged to a reserve asset, such as the U.S. dollar, to maintain price stability.
  • Redeemable Collateral: Assets held to back a stablecoin's value, which can be redeemed by holders for equivalent fiat currency.
  • Assurance Report: An independent evaluation, often performed by an auditing or accounting firm, affirming the accuracy of provided financial or operational information.