Tether announced it has hired a Big Four auditing firm to complete its first full independent financial audit, a process the company describes as the largest inaugural audit in the history of financial markets.
The firm was selected through a competitive process and has already completed the initial onboarding phase, which included a comprehensive evaluation of Tether’s internal systems, financial controls, and reporting.
USDT’s market capitalization stands at $184 billion and counts more than 550 million users worldwide. The company operates at a scale that combines digital assets, traditional reserves, and tokenized liabilities. While attestations are standard practice among stablecoin issuers, Tether goes beyond that threshold and aims for a full audit.
Paolo Ardoino, CEO of the company, stated that “trust is built when institutions are willing to open themselves fully to scrutiny.” For his part, Simon McWilliams, Chief Financial Officer appointed in early 2025, affirmed that the organization “already operates at the Big Four audit standard.” The ongoing audit will provide full visibility into the composition and soundness of the company’s reserves.
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