By Tether (USDT), the world’s third-largest cryptocurrency by market cap and the most traded stablecoin globally, has famously never undergone a full independent audit of its reserves. CEO Paolo Ardoino has chalked this up to none of the Big Four accounting firms being “willing” to audit Tether – an explanation that has become something of a recurring excuse in the stablecoin space. And Tether isn’t alone: other major players like USDC and DAI have also steered clear of comprehensive, real-time audits, relying instead on attestations or internal disclosures that fall short of full transparency. In contrast, A7A5, a ruble-pegged stablecoin issued under Kyrgyzstan’s regulatory framework, has taken a less evasive route. The project recently completed a full independent audit conducted by Kreston Bishkek LLC, a licensed auditing firm and member of the Kreston Global network. In a market where “we tried” is often the best transparency available, A7A5’s audited approach stands… Read More at Coingape.com
The post As Stablecoin Giants Delay Audits, Ruble-Pegged A7A5 Gets Audited and Verifies Its Peg appeared first on CoinGape.
