TUSD Partners The Network Firm For Cutting-Edge Attestation Services
TUSD, a leading USD-backed stablecoin, has engaged The Network Firm, an independent Certified Public Accounting (CPA) firm specializing in the digital asset industry, to provide real-time attestation services for its USD reserves. The move is part of TUSD’s ongoing commitment to maintaining transparency and stability through professional, 24/7 real-time attestations of its reserves.
TUSD has engaged The Network Firm, an Certified Public Accounting (CPA) firm, for real-time attestation services. The Network Firm was established by members of the Armanino team who were in charge of the FTX audit earlier, specializing in crypto companies.…
— Wu Blockchain (@WuBlockchain) March 29, 2023
Bolstering Credibility
The Network Firm, founded in 2016, has been at the forefront of developing crypto-native accounting and attestation services, as well as traditional tax and audit capabilities. The firm’s expertise in the digital asset industry makes it well-suited to provide real-time attestation services for TUSD’s USD reserves.
TUSD has long been working with third-party accounting firms to provide real-time attestation for its USD reserves. The engagement with The Network Firm is expected to enhance TUSD’s credibility and transparency and provide users with a better investment experience. The move also puts TUSD ahead of the curve in the stablecoin sector, as more crypto-focused CPA and audit firms are expected to emerge in the coming years.
Visionary Partnership for the Stablecoin Sector
The Head of Marketing of TUSD noted that the engagement with The Network Firm is a forward-looking decision that takes into account the current industry and market dynamics. TUSD plans to work with crypto-oriented specialist tools in the future to cement its leading position in the stablecoin sector.
Real-time attestations enable token issuers to provide intended users high visibility to off-chain financial data or reserves, said Noah Buxton, CEO & Co-Founder of The Network Firm. While public blockchains and tokenization offer transparent and immutable representations of value, there often remains a need for additional and independent transparency to off-chain assets.
The engagement with The Network Firm is a positive development for TUSD and the stablecoin sector as a whole. It demonstrates TUSD’s commitment to maintaining transparency and stability, and sets a high standard for other stablecoins to follow.
