Tether has hired a Big Four accounting firm to conduct a massive independent financial audit.
The company says the audit will cover the reserves backing its stablecoin USDT, which holds a market capitalization of more than $184 billion and serves more than 550 million users worldwide.
Tether describes the review as one of the largest inaugural audits in the history of financial markets.
It will examine a complex mix of digital assets, traditional reserves and tokenized liabilities, as well as internal controls, financial reporting and overall operations.
According to Paolo Ardoino, CEO of Tether,
“Tether’s mission has always been to build trust through action, not promises. Trust is built when institutions are willing to fully open themselves to scrutiny.
This audit represents years of work to strengthen our systems so that Tether can meet the highest standards applied in global finance. For the hundreds of millions of people and businesses who depend on the US dollar? every day, this audit is not just a compliance exercise; it’s about accountability, resilience and trust in the infrastructure they depend on.
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