TUSD has partnered with renowned accounting firm MooreHK to provide audit services for TUSD's reserve.

23-12-25 17:20

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Source: TrueUSD

We are pleased to announce today that TrueUSD ("TUSD") has partnered with renowned accounting firm Moore Hong Kong ("MooreHK"). Starting in mid to late January 2024, MooreHK will provide daily attestation services and daily reserve proof reports for TUSD. This is a significant update to TUSD's reserve verification system.

MooreHK was founded in 1975, providing comprehensive services to clients including auditing, assurance, accounting, business outsourcing, taxation, and other consulting services. It is an important member of Moore Global, a renowned accounting and advisory network rooted in the UK for a century and with members around the world, ranking among the top in the industry.

Teaming up with MooreHK, TUSD's collaboration is another major move in promoting internationalization strategy after offshore operations were launched in July this year. This move will play a positive role in further enhancing the transparency of TUSD's reserve information and stabilizing its position as a leading stablecoin in the industry. Meanwhile, The Network Firm, which focuses on crypto auditing, will work with MooreHK to provide industry-leading technical support for TUSD's reserve verification.

For a long time, TUSD has maintained cooperation with third-party accounting firms to continuously explore new technological paradigms in the blockchain industry to improve verification methods. It has provided a new paradigm for reserve verification and on-chain reserve proof, and has established a benchmark for transparency in the stablecoin ecosystem.

TUSD spokesperson stated: "We are very aware of the importance of reserve verification for stablecoins. A healthy and sufficient reserve is an important support for our future growth and development. MooreHK and The Network Firm will be important partners for us on our journey forward, providing strong support for TUSD's next market expansion."

MooreHK Senior Audit Director Zhu Meiru said: "We look forward to working with The Network Firm to improve the transparency of TUSD by using advanced verification tools, providing customers with reserve proof reports, and enabling them to accurately monitor the assets backing their stablecoins."

Roberta Lo, Managing Director of MooreHK Consulting Services, said: "MooreHK is committed to providing innovative solutions to our clients, and we are pleased to have the opportunity to collaborate with TUSD. The partnership with The Network Firm will bring many possibilities and prospects to the blockchain ecosystem in the Asia-Pacific region. As blockchain systems are standardizing transaction processing across industries, registered accountants will provide the necessary assurance to users of this technology with their skills, independence, objectivity, and professional knowledge."

In the future, TUSD will continue to explore more possibilities for application development and user experience, providing users with secure, stable, and transparent stablecoin services. To learn more about TUSD information or download the reserve proof report, please visit the official website at tusd.io.