Stablecoin issuer Tether says KPMG US has audited its 2025 statements
By Elizabeth Howcroft PARIS, Aug 14 (Reuters) - El Salvador-based Tether, which issues the world's largest stablecoin, said KPMG U. S. had performed a "full independent audit" of its financial statements for the first time. The audit, which was not ma. . .
, Aug 14 (Reuters) – El Salvador-based Tether, which issues the world’s largest stablecoin, said KPMG U. S. had performed a “full independent audit” of its financial statements for the first time. The audit, which was not made public, marks a move by Tether to reassure markets about its finances following heightened global scrutiny of crypto companies. Tether has for years said that it would seek an audit. • Tether’s chief financial officer said audited financial statements for 2025 show its reserves exceeded its liabilities by $6. 8 billion. The audit refers to “Tether International S. A. de CV” on December 31, 2025, Tether said. • KPMG did not immediately respond to a request for comment. • “The audit complements Tether’s existing quarterly reserve reporting, examining the transactions, systems, ownership records, valuations, counterparties, and underlying evidence supporting the Company’s financial statements,” Tether said. • Tether said KPMG physically counted every gold bar it held. • Tether’s website says it has issued around $183 billion in crypto tokens pegged to the dollar. Tether says it holds dollar-denominated assets, including U. S. Treasuries, to match the number of tokens in circulation. • Tether has previously published “attestations” by BDO Italia on the size of its reserves. (Reporting by Elizabeth Howcroft; Editing by Alexander Smith)