deposit insurance system

On March 13, the official Twitter of Paxos, the issuer of stable currency, said that the current deposit in Signature Bank was 250 million US dollars and the deposit insurance system had been established. All Paxos stable currency reserves are fully supported, and can be redeemed to customers at any time at the ratio of US $1:1. Paxos: Currently, the deposit in Signature Bank is 250 million US dollars Analysis based on this information:Paxos, the issuer of stable currency, has announced the establishment of a deposit insurance system for their stable currency reserves. In a tweet on March 13, the official Twitter account of Paxos revealed that the current deposit in Signature Bank had reached 250 million US dollars, and that all Paxos stable currency reserves were fully supported. The introduction of a deposit insurance system is a significant development for Paxos and for users of its stable currency. By providing deposit insurance, Paxos is able to offer a level…