$BUSD Reserves Consist of 60.5% US Treasury Bills, 4.21% Cash

According to the reserve report, $BUSD was backed by $738 million in cash, representing 4.21% of total reserves, and $10.6 billion in U.S. Treasury bills with a maturity of less than 90 days, as of June 30. The 17.4 billion $BUSD tokens in circulation were also backed by another $6.2 billion in U.S. Treasury collateralized reverse repurchase agreements with overnight maturities, the reserve report showed. U.S. Treasury bills make up around 60.5% of total reserves while repo agreements represent over 35% of the reserves. The reserve report also disclosed the cash custodians, most of which are insured by the Federal Deposit Insurance Corporation (FDIC).