Tether announced that it has partnered with BDO Italia to publish assurances and reports on its reserves.
Tether has previously worked with two Cayman Islands-based accounting firms, Moore Cayman and MHA Cayman. The company’s partnership with BDO Italia means it will no longer work with Moore and MHA.
Tether Partners With BDO Italia
Having partnered with BDO Italia to issue quarterly certification reports, the company has stated that it plans to move to monthly certifications. Tether also aims to undergo a full audit in the future.
Tether, which plans to convert quarterly certification reports to monthly, changed its priority by switching to a new system with the BDO Italia agreement. The company said inspection is a priority for us, adding that it is “committed to obtaining an inspection as soon as possible”.
According to The Block’s data board, Tether’s USDT stablecoin, launched in 2014, has the world’s largest market share with a total current supply of over 66 billion.
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