Anchorage has published the USAT stablecoin attestation report.
The U.S. issuer and custodian for Tether’s newest USAT stablecoin has officially revealed the initial stablecoin reserve attestation report. This particular audit was conducted by Deloitte and in accordance with the AICPA (American Institute of Certified Public Accountants).
Tether CEO Paolo Ardoino expressed:
USA₮’s early momentum signals strong demand for a resilient, dollar-backed digital asset tailored to the U.S. market. By releasing the first reserve report, Anchorage Digital Bank is establishing a clear standard of accountability and financial strength. We intend to help define the next chapter of digital dollars in the United States.”
As stated, there were 17,501,391 actively issued (with around 20M overall minted) USAT stablecoins, with $17,604,716 identified in reserves in January. The breakdown is $3,654,716 held as cash deposits, as well as $13,950,000 in reverse repurchase agreements backed by U.S. Treasuries.
The overall assessment of the audit had marked the total reserves as “Fair Value”, typically meaning that underlying assets held as stablecoin reserves for stablecoin issuance either matched value at par and/or was found to be more than the supply in circulation at the time of audit.
