Tether, a leading stablecoin issuer, has completed a System and Organization Controls 2 (SOC 2) audit, achieving the highest level of security compliance. This independent audit, developed by the American Institute of Certified Public Accountants (AICPA), showcases Tether’s commitment to providing a secure user experience.
Paolo Ardoino, CEO of Tether, stressed the importance of this compliance measure in reassuring customers that their assets and data are managed in a secure environment. Ardoino emphasized Tether’s goal of being the most trusted and compliant stablecoin worldwide.
Continuing its focus on security, Tether has committed to annual SOC 2 audits to ensure its security practices meet established standards. The company aims to achieve SOC 2 Type II certification by the end of 2025, evaluating internal controls over a 12-month period.
With a market capitalization exceeding $104 billion, Tether’s flagship stablecoin, USDT, is the third-largest cryptocurrency after Bitcoin and Ether. Achieving a $100 billion market cap on March 4 marks a 9% year-to-date growth.
In addition to stablecoins, Tether is expanding into new areas, planning to invest around $500 million in Bitcoin mining facilities in Uruguay, Paraguay, and El Salvador. By aiming to represent 1% of the Bitcoin mining network’s computing power and reaching 450 MW of direct mining operations by 2025, Tether’s approach includes setting up facilities in movable containers to adapt to changing electricity prices.
Ardoino emphasized that Tether’s mining efforts focus on gradual learning and growth, with a strategic expansion aligned with the company’s vision of innovation and resilience in the cryptocurrency ecosystem.
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