KPMG Counts Every Gold Bar as Tether’s XAUT Clears $2.24 Billion Audit

Tether announced Thursday, Nov. 12, that KPMG U.S. completed an independent financial audit of XAUT issuer TG Commodities, delivering an unqualified opinion on its 2025 financial statements after verifying more than $2.24 billion in physical gold reserves. Tether’s latest announcement marks another accounting milestone for the stablecoin heavyweight, with KPMG issuing an unqualified opinion on TG Commodities, S.A. de C.V., the company responsible for issuing XAUT. The examination covers the financial year ending Dec. 31, 2025, rather than the issuer’s present financial position. KPMG ranks among the world’s Big Four accounting firms, operating an international network of professional services businesses specializing in auditing, taxation, and advisory services. An unqualified opinion means the auditor determined that the financial statements fairly represented the company’s financial condition, in all material respects, under U.S.

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