Tether Hires KPMG for First Full USDT Audit

Tether commissions KPMG for its first full audit of USDT reserves, with PwC aiding system readiness, as it expands in the U.S. under evolving regulatory oversight.

Rich by Coin

2026-03-28

Tether has engaged KPMG to conduct its first full audit of USDT reserves, according to the Financial Times. The move, reported Thursday, also involves PwC preparing internal systems. This marks a major step as Tether faces scrutiny while expanding in the United States. The planned audit will go further than existing attestations.

Currently, BDO Italia provides periodic reserve reports. However, a full audit will examine assets, liabilities, and internal controls in detail. Tether CFO Simon McWilliams previously said the firm already operates at ‘Big Four audit standard.’ He added that a full audit will be delivered. USDT has about $185 billion in circulation.

This makes it a central liquidity source across crypto markets. Tether’s audit effort comes as the company prepares for a U.S. expansion. It is also exploring a potential fundraising round between $15 billion and $20 billion. Tether holds large exposures to U.S. Treasury securities and related instruments.