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Stablecoin issuer Paxos has released its first USDG attestation report, which discloses that as of 5:00 PM Singapore time on October 31, 2024, the number of USDG tokens held in the Ethereum network's USDG contract is 10,750,140, and the fair value of the redeemable assets is at least equal to or greater than 10,750,140 USD. The quantity of USDG tokens does not exceed the redemption asset balance in the report.
USDG is a Singapore Compliance stablecoin launched by Paxos in collaboration with DBS Bank, responsible for USD reserve management.