Tether has commissioned Deloitte to issue a USAT reserve report.

CoinFeed reported on March 3rd that, according to Bloomberg, stablecoin issuer Tether Holdings has received its first signed approval from Deloitte for its report on the reserves of its USAT stablecoin. USAT is a US-regulated, dollar-backed stablecoin launched by Tether to comply with new US regulations. Deloitte reviewed a report submitted by custodian bank Anchorage Digital, which showed that $17.6 million in reserve assets held by Anchorage Digital Bank back the 17.5 million USAT currently in circulation. This approval from Deloitte marks Tether's return to the US market. Tether CEO Paolo Ardoino had previously stated that the Big Four accounting firms had been reluctant to provide services due to reputational risks associated with the regulatory crackdown on the crypto industry during the Biden administration.