Tether has announced the completion of an audit conducted by KPMG in the United States, marking a significant step in its transparency efforts. The review encompasses all assets held by the stablecoin issuer, including approximately $60 billion in Bitcoin and physical gold holdings.
This engagement represents a shift from previous years, which did not feature independent audits by a Big Four accounting firm. The process included physical inspections of gold bars to verify the existence and integrity of the collateral backing the stablecoin.
Key facts
- Tether completed an audit with KPMG U.S. on August 13, 2026.
- The audit covers all assets, including roughly $60 billion in Bitcoin.
- Physical inspections of gold bars were performed as part of the verification.
- Previous annual reviews lacked independent audits from a Big Four firm.
Why it matters
The involvement of a major accounting firm provides a higher level of third-party verification for Tether’s reserves, addressing long-standing market concerns about asset backing. This move aims to bolster confidence among users and regulators by demonstrating rigorous oversight of the collateral supporting the world’s largest stablecoin.