Buy Crypto Markets Spot FuturesUSOIL Earn Event Center

Finance Share Share this article Copy linkX (Twitter)LinkedInFacebookEmail Tether taps Deloitte for first USAT reserve Finance Share Share this article Copy linkX (Twitter)LinkedInFacebookEmail Tether taps Deloitte for first USAT reserve

Tether taps Deloitte for first USAT reserve report

Author: Coindesk

Source: Coindesk

2026/03/03 17:33

4 min read

USAT$0.9996+0.06%

For feedback or concerns regarding this content, please contact us at [email protected]

Finance

Share this article

Copy linkX (Twitter)LinkedInFacebookEmail

Tether taps Deloitte for first USAT reserve report

The report is a third-party attestation, which provides a snapshot of reserves at a specific point in time, rather than a full audit of the company's finances.

By Francisco Rodrigues|Edited by Oliver Knight

Mar 3, 2026, 9:33 a.m.

Make us preferred on Google

Tether logo (Tether/Modified by CoinDesk)

What to know:

Tether has released its first reserve report for its new U.S.-regulated stablecoin, USAT, which was reviewed by Deloitte and shows $17.6 million in reserve assets backing 17.5 million tokens.
The report is a third-party attestation, which provides a snapshot of reserves at a specific point in time, rather than a full audit of the company's finances.
The USAT token is designed to comply with new U.S. regulations, and Tether's stablecoin sector is growing rapidly, with a total market capitalization now over $315 billion, led by Tether's USDT and Circle's USDC.

Leading stablecoin issuer Tether has secured a sign-off from Deloitte for the first reserve report tied to its new U.S.-regulated stablecoin, after years struggling in its relationships with major accounting firms.

Deloitte reviewed a report prepared by Anchorage Digital Bank, which issued the company’s new USAT token. In a letter released Monday, the accounting firm said Anchorage reported $17.6 million in reserve assets backing 17.5 million USAT tokens in circulation. The token’s market cap has, since the report, risen to nearly $20 million as its growth accelerates.

The total market capitalization of the stablecoin sector has, in fact, been growing rapidly. It’s now past $315 billion, according to CoinMarketCap data, with Tether’s USDT making up $183 billion of that. Circle’s USDC comes in second place, at $76 billion.

The new USAT token follows the passage of the Genius Act last summer. The law limits the types of assets that can back stablecoins and requires larger issuers to move under federal oversight. USAT is structured to comply with those rules.

Third-party attestations such as this differ from full audits, however. They offer a snapshot of reserves at a specific point in time rather than a deep review of company finances.

Tether has been leveraging the revenue it generates from the assets backing its stablecoins to invest in a plethora of industries. These include a majority stake in Latin American agricultural firm Adecoagro (AGRO), a privacy-focused health app, a stake in video-sharing platform Rumble (RUM). More recently, it invested $200 million in digital marketplace Whop.

More For You

PayPay, 40% owner of Binance Japan, seeks up to $1.1 billion in Nasdaq IPO

By Helene Braun, AI Boost|Edited by Nikhilesh De

11 hours ago

The Nasdaq-bound payments firm backed by SoftBank targets a valuation above $10 billion.

What to know:

PayPay, Japan’s largest cashless payments provider backed by SoftBank, is seeking to raise up to $1.1 billion in a U.S. IPO that could value the company at more than $10 billion.
In October, PayPay acquired a 40% stake in Binance Japan.
The Tokyo-based firm and a selling shareholder plan to offer 55 million American depositary shares at $17 to $20 each on Nasdaq under the ticker PAYP.

Read full story

Latest Crypto News

Bitcoin falls below $67,000 as U.S. equities slide and oil pushes higher

35 minutes ago

OKX jumps into AI agent race with new OnchainOS toolkit

46 minutes ago

Core Scientific sells $175 million in bitcoin as AI pivot accelerates

53 minutes ago

Bitcoin supply approaching 20 million: The final million will take another 114 years to mine

1 hour ago

Bitcoin climbs as BTC ETFs post one of the quarter’s biggest inflow days amid Iran volatility

3 hours ago

NEAR token jumps 17% after ‘Confidential Intents’ launch, outpaces privacy tokens sector

4 hours ago

Vitalik Buterin unveils plan to curb Ethereum block builder centralization

15 hours ago

Weekend warriors: How HyperLiquid became retail’s bear market playground

16 hours ago

Bitcoin’s 5% spike higher Monday driven by short-covering, not fresh buying, says analyst

14 hours ago

Battle for Bitcoin's soul opens as first block supporting 'clean-up' proposal is mined

16 hours ago

Tom Lee's Bitmine boosts ether holdings to 4.47 million tokens with $98 million ETH purchase

18 hours ago

Iranian crypto outflows jump 700% minutes after U.S.-Israeli airstrikes, Elliptic says

19 hours ago

Market Opportunity

USAT Price(USAT)

$0.9996

$0.9996$0.9996

+0.03%

USD

USAT (USAT) Live Price Chart

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

Tags:

#ETF #Stablecoins