Tether announces KPMG audit approval for $2.25 billion gold-backed XAUT reserves

Tether , a leading stablecoin issuer known for its USDT token, announced on November 12 that TG Commodities Limited, the company responsible for Tether Gold (XAUT), received an unqualified audit opinion from KPMG U.S. on its 2025 financial statements. KPMG U.S., one of the Big Four accounting firms, audited TG Commodities’ financial reports for the year ended December 31, 2025. The unqualified opinion confirms that the financial statements are fairly presented according to U.S. accounting standards. The process focused on verifying the accuracy and transparency of recording and valuing the physical gold reserves backing XAUT tokens. Tether stated that KPMG auditors physically inspected and counted each individual gold bar stored in Swiss vaults to back XAUT tokens, rather than solely relying on custodian reports.

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