Tether has hired KPMG to audit its financial statements, according to a report by FT citing its sources.

Sources indicate that another Big Four firm, PwC, will prepare Tether's internal systems for the independent audit of the USDT stablecoin.

On March 24, Tether announced it had entered into an agreement with a Big Four auditor through a competitive process, but did not disclose the partner's name.

Tether Signs Big Four Firm to Complete First Full Audit, Setting a New Quality Standard for the Digital Asset Economy

Read more: https://t.co/rtsB7l4nJL

— Tether (@tether) March 24, 2026

According to the press release, this move aims to reinforce confidence that:

  • USDT is fully backed by reserves;
  • it possesses high liquidity;
  • it is managed using world-class risk management methods.

Tether claims that this institutional-level audit should signal a shift for the entire industry, noting that other stablecoin issuers "settle for minimal transparency."

FT journalists believe that a comprehensive financial audit is intended to support Tether's planned business expansion in the U.S. and attract investments. In February, the company sought to raise $15-20 billion at a $500 billion valuation but faced investor concerns over the risks associated with past regulatory issues.

Tether has assured that it has taken several steps in recent years to enhance trust:

  • strengthened reserves to ensure liquidity and conservative asset management;
  • provided regular updates to guarantee transparency regarding reserve composition;
  • actively collaborated with law enforcement worldwide to identify illegal activities, freeze illicitly obtained funds, and protect users;
  • implemented robust compliance and risk management systems to maintain USDT's status as a safe and reliable digital dollar.

Tether's flagship token dominates the stablecoin segment with a total volume of approximately $310 billion. The market capitalization of USDT exceeds $184 billion.

Source: CoinGecko.

According to Artemis, in 2025, USDC surpassed Tether in total transferred value—$17.3 trillion compared to $12.9 trillion.

As a reminder, in 2026, the Circle stablecoin continued to lead in adjusted transaction volume.