$184 billion USDT comprehensive audit! Stablecoin issuer Tether has chosen KPMG to lead PwC internal controls.

The world’s largest stablecoin issuer, Tether, has made significant progress in its audit process. Following the announcement on March 24 to commission a full financial audit by a “Big Four” accounting firm, foreign media recently revealed that the auditing firm responsible for this audit is KPMG, while PwC has been hired to assist the company in establishing and optimizing internal systems in preparation for the comprehensive audit. This move is seen as an important step towards full financial transparency for Tether amid tightening regulations and plans for expansion in the U.S. market.

(Tether announces commissioning of a Big Four accounting firm for the first complete audit, with a market value of $184 billion USDT seeing a transparency upgrade)

Tether collaborates with KPMG to audit $184 billion in reserves

According to reports, this audit will cover Tether’s reserves of approximately $184 billion in stablecoin, including digital assets, traditional financial assets, and tokenized liabilities. Compared to the periodic reserve attestation reports issued by BDO Italia in the past, a complete financial audit will further examine the asset and liability structure, internal control mechanisms, and financial reporting processes, significantly enhancing transparency and rigor.

Tether’s CEO Paolo Ardoino stated that this audit is the result of the company’s years of strengthening its infrastructure and internal control systems, emphasizing that trust is built through actions, not promises. CFO Simon McWilliams also pointed out that the audit firm was selected through a competitive process, and the company’s current operational standards meet the requirements for a Big Four audit, with relevant reports expected to be completed on schedule.

Tether launches compliant stablecoin USAT, actively entering the U.S. market

Currently, the number of global USDT users exceeds 550 million, making it one of the core liquidity tools in the cryptocurrency market. Its capital allocation is also highly linked to the traditional financial system, particularly playing an important buyer role in the U.S. Treasury market, making it a crucial bridge connecting crypto assets and Wall Street capital.

As the audit progresses, Tether is also continuously adjusting its reserve structure and plans to transfer some listed securities assets. The company emphasizes that it has long retained earnings within the group’s shareholding structure rather than distributing dividends directly to ensure sufficient capital buffer to support the stability of USDT and enhance the resilience of its balance sheet.

The introduction of KPMG’s complete audit comes at a critical time following the implementation of the U.S. GENIUS Act. This legislation establishes a federal-level regulatory framework for stablecoins, and Tether has also launched a compliant U.S. dollar stablecoin, USAT, demonstrating its proactive positioning in the U.S. market.

This article “Comprehensive audit of $184 billion USDT! Stablecoin issuer Tether selects KPMG to lead, PwC for internal control” first appeared in Chain News ABMedia.