According to Reuters, ChainCatcher reports that Tether, the world's largest stablecoin issuer, is in talks with a Big Four accounting firm to advance its long-standing commitment to reserve auditing.

Tether has issued over $140 billion in US dollar-pegged cryptocurrency, claiming that each token is backed by US dollar-denominated assets. Currently, the company only publishes quarterly reports and has not completed a comprehensive audit.

Tether CEO Paolo Ardoino did not disclose the specific accounting firm or audit timeline, stating: "This (audit) is our top priority."

Tether appointed Simon McWilliams as Chief Financial Officer earlier this month, tasked with advancing a comprehensive financial audit.

Meanwhile, Tether continues to strengthen reserve transparency, purchasing over $33.1 billion in US Treasury bonds in 2024, becoming the seventh-largest buyer of US Treasuries.