According to Paolo Ardoino, the audit ensures clients that their assets and data are managed in an environment that meets the highest standards of information security.
Tether emphasizes that the company is updating its own information security strategy and using innovative technologies to generate reporting to its clients.
SOC 2 is an independent auditing and reporting system. It provides assessments of control protocols for information security risk management. Particular attention is paid to the privacy of customer and company data.
Tether has committed to undergo annual SOC 2 audits. In 2024-2025, the USDT issuer plans to obtain the System and Organization Controls Type II certificate, which evaluates the effectiveness of a company's internal controls over a 12-month period.
Previously, according to Arkham Intelligence observer, Tether bought $627 million worth of bitcoins on the Bitfinex exchange. Experts note that over the past year the company has significantly increased its bitcoin reserves, initially disclosing its BTC reserves in the first quarter of 2023.
Source: Bits
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