Tether completes first full independent audit with KPMG

Tether, the issuer of the world’s largest stablecoin by market capitalization, announced the completion of its first full independent audit conducted by KPMG. The audit, covering the company’s consolidated reserves as of a specific reporting date, provides a third-party verification of Tether’s asset backing and liquidity management.

The audit report, issued by KPMG, confirms that Tether’s reserves are fully backed by assets, including cash, cash equivalents, and other high-quality liquid investments. The findings address long-standing concerns from regulators and market participants regarding the transparency of stablecoin issuers. Tether has previously released partial attestations but has not undergone a full independent audit until now.

The completion of the audit follows heightened regulatory pressure on stablecoins globally. Authorities in the U.S. and Europe have intensified scrutiny over reserve transparency, capital requirements, and operational risks associated with stablecoins. Tether’s move aligns with broader industry efforts to enhance credibility and compliance with evolving regulatory frameworks.

Tether’s Chief Technology Officer, Paolo Ardoino, stated that the audit represents a significant step toward greater transparency and trust in the stablecoin ecosystem. The company has committed to publishing regular audits and attestations to maintain accountability.

The announcement comes as stablecoins play an increasingly critical role in digital asset markets, facilitating trading, lending, and cross-border transactions. Investors and regulators continue to monitor the sector closely, particularly as stablecoins gain adoption in traditional finance and decentralized finance (DeFi) applications.