Stablecoin issuer Tether says KPMG US has audited its 2025 statements

By Elizabeth Howcroft

PARIS, ‌Aug 14 (Reuters) - ​El ​Salvador-based Tether, which issues the world's largest stablecoin, said KPMG U.S. had performed a "full ‌independent audit" of its financial statements for the ⁠first time.

The audit, which was not made public, marks a ‌move by Tether to ‌reassure markets about its finances following heightened global scrutiny of crypto companies.

Tether has for years said that ​it would seek an audit.

• Tether's chief financial officer said audited financial statements for 2025 ⁠show its reserves exceeded its liabilities by $6.8 billion.

• A spokesperson for KPMG ​U.S. said: “We can confirm that we issued an unqualified opinion on Tether International, S.A. ​de C.V.’s financial statements in accordance ‌with AICPA standards for the year ending December 31, 2025. Due to client ⁠confidentiality, we have no further comment.”

• "The audit complements Tether's existing quarterly reserve reporting, examining the transactions, systems, ownership ⁠records, valuations, counterparties, and underlying evidence supporting the Company's financial statements," ​Tether said.

• Tether said KPMG physically counted every gold bar it held.

• Tether's website says it has issued around $183 billion ‌in crypto tokens pegged to the dollar. Tether says it holds dollar-denominated assets, ‌including U.S. Treasuries, to match the number of ⁠tokens in circulation.

• Tether ‌has previously published "attestations" ​by BDO Italia on the size of its reserves.

(Reporting by Elizabeth Howcroft; Editing by Alexander ‌Smith)

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