The issuer of the world’s largest stablecoin is completing its first full independent financial statement audit, resulting in an unqualified clean opinion from a major firm.
Tether says the audit of Tether International, S.A. de C.V.’s financial statements for the year ended December 31, 2025, was conducted by KPMG U.S. and delivered the highest possible result under the American Institute of Certified Public Accountants (AICPA) standards.
KPMG physically counted and inspected every individual gold bar held by the company while examining the full balance sheet, including reserves and liabilities, as well as the income statement, changes in equity, and cash flows.
The audit complements existing quarterly reserve reporting and verified that reserves exceeded liabilities by $6.814 billion as of December 31, 2025.
Tether CEO, Paolo Ardoino, says,
“This is a defining moment for the stablecoin industry. Completing our financial statement audit sets a new standard for the industry and reflects the leadership we’ve brought to this market from the start.
This is a landmark moment for Tether and for the industry we serve – a milestone in Tether’s commitment to transparency,” said the CFO. “Tether’s audited financial statements for the year ended 31 December 2025 report reserves exceeding the liabilities by $6.814 billion, confirming the quality of the public attestation reports.”
The achievement builds on years of quarterly attestations and serves more than 650 million users who rely on the stablecoin for savings, commerce, and remittances in emerging markets.
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