Regulation

Stablecoin Issuer Tether Uses Deloitte for USAT Reserve Report

Tether Holdings CEO Paolo Ardoino, center, and Bo Hines, CEO of Tether USAT, right, announced plans to issue a US regulated, dollar-backed stablecoin during a press conference in New York on Sept. 12, 2025.
Photographer: Muyao Shen/Bloomberg

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By Emily Mason

March 2, 2026 at 8:14 PM UTC

After saying for years that major accounting firms were unwilling to provide auditing services, Tether Holdings SA received a sign-off from Deloitte on the first-ever reserve report for its USAT stablecoin that was launched to comply with new US regulations.

The world’s largest accounting and professional services firm examined the report provided by Anchorage Digital Bank NA, which issues the token, according to a letter released Monday. Anchorage reported $17.6 million of reserve assets backing 17.5 million USAT redeemable tokens outstanding.