Tether Limited has released a report by the auditing firm Moore Cayman. Where it is publicly shown that the issuer of a stable digital coin has $ 62 billion in assets.
Tether’s conclusion and main report have a reporting date of June 30, 2021.
This enables clients to ensure that the tokens are backed by reserves and provides a complete breakdown of those reserves.
“As an industry leader, we understand the importance of transparency and accountability. Our latest audit report from Moor Cayman once again confirms that Tether is fully supported. A healthy and conservative portfolio with a focus on liquidity continues to fuel our growth and confidence in our innovative offerings, ”Tether CTO Paolo Ardoino commented on the company’s website.
Importantly, in its June 30 report, the company decided to combine the two categories into one: cash and bank deposits. In addition, Tether has assigned ratings to its commercial paper and certificate of deposit.
Officially, this is the second report on the company’s reserves.
You can see more details in the Tether report here.