Tether Partners with BDO Italia: Enhanced Transparency Through Top 5 Accounting Firm
Tether, the world's largest stablecoin issuer, has taken a significant step towards greater transparency by partnering with BDO Italia, the Italian arm of BDO, the world's 5th largest accounting firm. This collaboration marks a new era in Tether's commitment to providing reliable and verifiable proof of reserves reports.
The official partnership between Tether and BDO Italia began in July, with Tether Holdings Limited appointing BDO Italia, the Italian branch of Binder Dijker Otte, to conduct independent verification of its reserves. This move comes as Tether aims to further solidify trust and confidence in the stability of its stablecoin.
BDO Italia: A Top-Tier Accounting Firm
BDO Italia, a member firm of the BDO global organization, is recognized as one of the top five ranked global independent public accounting firms. The selection of BDO Italia underscores Tether's dedication to working with reputable and respected entities in the financial world. News of the partnership was announced on August 18th, solidifying the commitment.
While BDO USA, LLP continues to rank highly in accounting firm rankings, the focus of this partnership is specifically with BDO Italia, enabling Tether to issue assurance and proof of reserves reports with enhanced credibility and oversight. By working with BDO Italia, Tether is dedicated to providing the most current and up-to-date reporting possible to ensure confidence in the stablecoin market.