Tether Launches USAT Stablecoin with Big Four Audit
- Tether has launched a new stablecoin, USAT, specifically for the American market.
- The reserves of USAT were audited by Deloitte & Touche, confirming $17.6 million in total reserves against an issuance of $17.5 million.
- Anchorage Digital Bank is the official issuer of USAT and holds a trust bank license in the U.S.
- USAT complies with the GENIUS Act, ensuring regulatory adherence and transparency.
The introduction of USAT marks a significant step for Tether in enhancing transparency and regulatory compliance within the cryptocurrency space. The audit by Deloitte & Touche is notable as it represents the first instance of a “Big Four” firm auditing Tether’s stablecoin reserves.
With verified excess reserve coverage confirmed at $17.6 million, USAT aims to build user trust in a regulated environment.(Source)
