BroadChain has learned that on March 24, stablecoin issuer Tether announced a partnership with a "Big Four" accounting firm to conduct its first comprehensive independent financial audit.
The audit will examine Tether's digital asset reserves, traditional financial assets, and tokenized liabilities. Its goal is to provide greater clarity on whether USDT is fully backed by reserves.
With a current market capitalization of approximately $18.4 billion and over 550 million users, Tether stated this initiative is intended to boost transparency and regulatory compliance.