Stablecoins
Tether Completes Historic Financial Audit by KPMG, Revealing Strong Reserves
Tether, the issuer of the world’s largest stablecoin, has successfully completed its inaugural independent financial statement audit, which was conducted by KPMG U.S. This audit, which pertains to Tether International, S.A. de C.V.’s financial statements for the year ending December 31, 2025, has resulted in an unqualified clean opinion, the highest possible outcome under the standards set by the American Institute of Certified Public Accountants (AICPA).
KPMG undertook a thorough examination, including a physical count of every gold bar held by Tether, and assessed the full balance sheet, reserves, liabilities, income statement, changes in equity, and cash flows. The audit confirmed that Tether's reserves exceeded its liabilities by $6.814 billion as of the end of 2025.
Paolo Ardoino, Tether's CEO, described this milestone as a defining moment for the stablecoin industry, asserting that it sets a new standard for transparency and reflects Tether's leadership in the market. He emphasized that the audit demonstrates Tether's evolution into a financially significant and operationally sophisticated company.
This achievement builds upon Tether's history of quarterly reserve attestations and serves over 650 million users who rely on the stablecoin for various financial activities, including savings, commerce, and remittances, particularly in emerging markets.
FAQ
What was the significance of Tether's financial audit by KPMG?
The audit was significant as it was Tether's first independent financial statement audit, resulting in an unqualified clean opinion from KPMG, which indicates a high level of transparency and financial integrity.
What did the audit reveal about Tether's financial reserves?
The audit revealed that Tether's reserves exceeded its liabilities by $6.814 billion as of December 31, 2025, confirming the company's strong financial position.
How did KPMG conduct the audit?
KPMG conducted a thorough examination that included a physical count of every gold bar held by Tether, as well as assessments of the full balance sheet, reserves, liabilities, income statement, changes in equity, and cash flows.
What impact does this audit have on the stablecoin industry?
The audit sets a new standard for transparency in the stablecoin industry, as highlighted by Tether's CEO, and reflects Tether's leadership and evolution into a financially significant and operationally sophisticated company.
Who benefits from Tether's stablecoin?
Over 650 million users benefit from Tether's stablecoin for various financial activities, including savings, commerce, and remittances, especially in emerging markets.