Tired Of Shady Stablecoins? TUSD Hopes To Shine Through With Daily Audits

In a bid to enhance transparency and trust in its operations, the stablecoin TrueUSD TUSD/USD Thursday announced a partnership with accounting firm Moore Hong Kong (MooreHK), that will provide daily attestation services.

The goal is to bolster confidence among stakeholders and token holders starting in late January 2024.

MooreHK, established in 1975 and a member of the global accounting network Moore Global, is set to bring its experience in audit, assurance, and advisory services to the table.

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This collaboration marks a crucial step in TUSD's strategy to strengthen its reserve attestation system.

MooreHK's involvement is expected to provide a higher level of transparency and reliability in the reporting of TUSD's fiat reserves.

In addition to MooreHK, TUSD will also be working with The Network Firm, a specialized accounting and audit technology firm in the crypto industry.

This partnership aims to leverage advanced technical support and innovative solutions to enhance the stablecoin's transparency and trustworthiness.

TUSD stated that it has a history of collaborating with third-party audit firms to develop innovative solutions for the blockchain industry.

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The introduction of daily attestation services by MooreHK is a continuation of TUSD's commitment to maintaining a transparent and robust reserve system.

A spokesperson for TUSD emphasized the importance of reserve attestations for stablecoins, noting that a robust reserve is crucial for the platform's growth.

MooreHK's Senior Assurance Director, Michelle Chu, expressed enthusiasm for the collaboration, highlighting the potential to enhance TUSD's transparency.

Patrick Rozario, Managing Director of MooreHK Advisory Services, also commented on the partnership's potential to drive innovation in the Asia Pacific blockchain ecosystem.

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