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Stablecoin Issuers Release Reserve Reports: Circle, Ripple, Paxos
A number of stablecoin issuers release their monthly stablecoin reserve attestations showing latest assets and liabilites.
Stablecoin reserve attestations show mixed issuance growth from March to April (Andres Perez / Unsplash)
Several issuers release their transparency reports.
Top stablecoin issuers Circle, Ripple and Paxos have released their stablecoin reserve attestation reports for the month of April. Underlying stablecoins are all marked as Fair Value by the auditors, although mixed growth is seen from March to April.
Circle’s USDC had $77,123,668,726 in reserves (end of April) with $19B in U.S. Treasuries, $46B in Treasury Repurchase Agreements, and the rest in cash deposits. EURC had €374,194,276 in reserves with €376M in cash deposits. Outstanding amounts were owed by Circle Reserve Fund.
The auditor is Deloitte and the increase in reserve assets vs. the reported accounting from end of March is only marginal for both.
Ripple’s RLUSD had $1,546,747,642 in reserves in market value by 30th April, a slight reduction from $1,637,354,539 a few days before (adjusted). Of the more recent value, around $1B was held in U.S. Treasuries, with $263M in GMMFs (Government Money-Market Funds) and $250M in cash deposits.
The auditor is Deloitte and around $210+M was added since the March transparency report.
Paxos has four types of stablecoins that it accounts for in its attestation reports and is audited by KPMG:
USDG (Global Dollar) had $2,444,192,275 in reserves with $1.15B in U.S. Treasuries, $1.22B in GMMFs, and $67M in cash deposits. Total reserves grew from $1.85B at the end of March.
USDP (Paxos Dollar) had $40,588,300 in reserves with a split between $34.3M in cash deposits and $6.2M in repurchase agreements. There was insignificant growth since March.
PYUSD (PayPal) had $3,386,175,889 in reserves with around $3B in repurchase agreements, $250M in U.S. Treasuries, and $87.5M in cash deposits. This decreased from $3.9B total reserves in March.
PAXG (Paxos Gold) had 479,163 in fine troy ounces of London Good Delivery gold, which is down from 514,128 recorded in March.
Importantly, reserves for all issuers are reported for the end of April and do not represent current assets and liabilities at the time of writing.
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