- Tether hires KPMG for its first full financial audit
- Previously relied on monthly attestations instead of full audits
- Move aims to boost transparency and institutional trust
- Comes as Tether explores a reduced $5B capital raise
From Attestations to Full Audit
Tether is taking a major step toward transparency by engaging KPMG to conduct its first full financial statement audit. Until now, the company relied on monthly attestations, which only provided snapshots of reserves rather than a full financial review.
The audit will bring Big Four scrutiny to the largest stablecoin issuer, which manages over $180 billion in USDT supply.
Strengthening Institutional Credibility
To prepare for the process, Tether has also brought in PwC to help upgrade its internal systems. The move signals a shift toward aligning with traditional financial standards.
A completed audit could address long-standing concerns around reserve backing and strengthen Tether’s position in regulated markets.
Strategic Timing
The development comes as Tether explores raising new capital, reportedly around $5 billion, and continues to generate strong profits. Increased transparency may help attract institutional partners and expand its global reach.
