TUSD has partnered with The Network Firm, a Certified Public Accounting (CPA) firm, to provide real-time attestation services. Established by members of the Armanino team who previously handled the FTX audit, The Network Firm specializes in providing accounting solutions for crypto companies. TUSD has taken a proactive approach to the current industry and market dynamics by making this engagement decision. By doing so, they are looking ahead to ensure their success in the future.
Several CPA and Audit Companies with a Focus on Cryptocurrencies will Emerge
As the crypto sector develops, they are certain that there will be more CPA and audit firms that specialize in cryptocurrency. To maintain TUSD’s dominant position in the stablecoin market, they also intend to cooperate with crypto-oriented specialized solutions in the future, according to the company’s head of marketing. TUSD is proactively addressing the rapidly evolving crypto ecosystem, and they want to use specialized tools to continue to be at the cutting edge of stablecoin technology.
The head of marketing for TUSD asserted that the company is confident in its capacity to stay in front of the curve as even more CPA and audit companies concentrate on cryptocurrency. Transparent, permanent representations of value may be offered through public blockchains and tokenization. More insight into off-chain assets is still necessary, though. To offer real-time authentication of its USD reserves, TUSD has been collaborating with a third-party accounting institution or company for some time.
Using real-time attestations enables token issuers to provide consumers with more information about their financial information or reserves, according to Noah Buxton, CEO & one of the founders of The Network Company. By doing this, consumers are given an additional degree of transparency and confidence in the security and dependability of the investment they are investing in. TUSD has been the most open stablecoin among those backed by USD because of its transparency, which has helped to win over consumers’ confidence.
TUSD is Setting the Stage for More Openness and Confidence for the TUSD Product
Since 2016, the company’s founding team has been in charge of developing crypto-native financial reporting, attestation services, traditional tax, and audit capabilities. They feel that TUSD is providing a solid basis for dependability and transparency for the TUSD product through their partnership with The Network Firm. They feel confident that they can support their users in achieving the objectives given their level of knowledge in this area.