In this paper, we introduce a novel paranormed sequence space $\mathit{l}(R_{\mathrm{\Phi }},p)$ constructed through the application of the Riesz Euler Totient matrix. We demonstrate that the spaces $\mathit{l}(R_{\mathrm{\Phi }},p)$ and $\mathit{l}(p)$ are linearly isomorphic. In addition, we identify the dual spaces associated with this sequence space and establish its Schauder basis.