Stablecoin issuer Tether says KPMG US has audited its 2025 statements

El Salvador-based Tether, the issuer of the world's largest stablecoin, announced that KPMG US has completed an audit of its 2025 financial statements. This marks the first time Tether has undergone a full independent audit, aimed at reassuring markets about the company's finances in light of recent heightened global scrutiny of crypto companies.

Tether's Chief Financial Officer stated that the audited financial statements indicate that the company's reserves exceeded its liabilities by $6.8 billion as of December 31, 2025. The audit encompasses a thorough examination of Tether International S.A. de CV's transactions, systems, ownership records, valuations, counterparties, and underlying evidence supporting its financial statements.

Tether emphasized that this audit complements its existing quarterly reserve reporting, focusing on detailed aspects such as the company's gold holdings. Specifically, KPMG physically counted every gold bar held by Tether. According to Tether's website, the company has issued approximately $183 billion in crypto tokens pegged to the US dollar, with these tokens supported by dollar-denominated assets, including U.S. Treasuries.

In the past, Tether has published attestations by BDO Italia regarding the size of its reserves. KPMG's response to a request for comment was not immediately available.