ChainCatcher news, according to official sources, Paxos announced that it expects to release the first attestation report for the Singapore compliant stablecoin USDG, launched in collaboration with DBS Bank, this month (November 2024). Paxos stated that the attestation report is intended to be issued by the independent third-party accounting firm Enrome LLP, and this review will be conducted according to the standards set by the Singapore Institute of Chartered Accountants.It is reported that Paxos will subsequently release attestation reports monthly, aiming to build community trust and ensure that financial data is completely transparent and reliable.

ChainCatcher news, according to Cointelegraph, blockchain infrastructure company Paxos has announced the launch of the Singapore-compliant stablecoin Global Dollar (USDG), which is managed by DBS Bank for its USD reserves. This is the second localized stablecoin product launched by Paxos, following the interest-bearing stablecoin Lift Dollar (USDL) regulated in the UAE five months ago.USDG received approval from the Monetary Authority of Singapore (MAS) in July this year and fully complies with the stablecoin regulatory framework established by MAS in August 2023. The stablecoin currently operates on the Ethereum blockchain and will expand to other public chains based on regulatory developments in the future. USDG is backed by a 1:1 USD reserve, which includes USD deposits, short-term U.S. government bonds, and other cash equivalents.