Stablecoin attestation board

Reserves per Circle's Deloitte & Touche LLP (Circle's independent auditor since fiscal 2022; Grant Thornton LLP served 2015–2022) attestation — see the issuer's report.

assurance not read

Not read. circle.com/transparency states the reports are prepared to AICPA attestation standards, which fixes the FRAMEWORK but not the LEVEL — an examination (reasonable assurance) and a review (limited) are both prepared to those standards. The engagement type and the criteria source are properties of the report, and the monthly USDC report has not been read at that depth, so no level is claimed rather than one being assumed from the framework.

Verified 2026-07-19 on circle.com/transparency: monthly third-party assurance reports on USDC reserves, prepared to AICPA attestation standards; the page names Deloitte & Touche LLP as Circle's independent auditor since fiscal 2022 and Grant Thornton LLP as its predecessor from 2015. Reports are linked from that page, never re-hosted here.

Reserves per Circle's Deloitte & Touche LLP (Circle's independent auditor since fiscal 2022) attestation — see the issuer's report.

assurance not read

Not read, for the same reason as USDC: the page names AICPA attestation standards, which does not distinguish an examination (reasonable assurance) from a review (limited). The EURC report itself has not been read.

Verified 2026-07-19: circle.com/transparency carries EURC alongside USDC on the same monthly attestation-report index, under the same AICPA attestation framing.

Reserves per Tether's BDO Advisory Services S.r.l. attestation — see the issuer's report.

reasonable assurance issuer's own criteria

Reasonable assurance — the strongest of these engagements: the accountant states an OPINION on the reserve schedule (ISAE 3000R reasonable assurance engagement). Criteria are MANAGEMENT-DEFINED: the issuer's own stated basis of preparation for the reserves report, per the report's criteria section — not a supervisor's conditions. A clean report on management-defined criteria says the reserves met the issuer's own stated policies — policies the issuer also writes and can change. As of: 2026-03-31.

Attestor resolved 2026-07-26 by a HUMAN READ of the signed reserves report: BDO Advisory Services S.r.l., an ISAE 3000R reasonable-assurance engagement as of 31 March 2026. The firm name is image-only in the document — letterhead logo and signature graphic, absent from the PDF text layer — which is why the earlier text-extraction probes could not find it and correctly refused to name a firm. The July 25 finding still holds for the WEB PAGE: tether.to/en/transparency answers 200 but is entirely client-rendered, carrying only the "Reports & Reserves" heading and its per-token tab links, with no firm name, report date or PDF link in the served HTML. The name here comes from the report, not from that page and not from research.

Reserves per Paxos (for PayPal)'s KPMG LLP attestation — see the issuer's report.

assurance not read

Not read. paxos.com/pyusd-transparency describes the series as a KPMG LLP "examination" conducted to AICPA attestation standards — which, if the report says the same, classifies as reasonable assurance. That is the issuer's description of its reports rather than a report's own words, and the criteria source cannot be read from a page at all. The lead is recorded here; the classification waits for the document itself.

Verified 2026-07-25 on paxos.com/pyusd-transparency, which states verbatim that "Attestation reports posted on or after February 28, 2025 are issued by KPMG LLP, an independent third-party accounting firm" to AICPA attestation standards, and that reports before that date "were issued by WithumSmith+Brown, PC". The same page adds that KPMG's "appointment as Paxos' examination provider has been approved by Paxos' prudential regulator, the New York State Department of Financial Services". Reports are linked from that page, never re-hosted here.

Reserves per Standard Custody & Trust Company, LLC (a Ripple Labs subsidiary)'s Deloitte & Touche LLP attestation — see the issuer's report.

reasonable assurance regulator's criteria

Reasonable assurance — the strongest of these engagements: the accountant states an OPINION on the reserve schedule (AICPA examination). Criteria are REGULATOR-DEFINED: the criteria stated in the report's own criteria section — the New York State Department of Financial Services' guidance on U.S. dollar-backed stablecoins of 8 June 2022. A clean report here says the reserves met a supervisor's conditions. Report Dates (two, both 5:00pm ET — the report states no month-end): 2026-05-18 and 2026-05-29.

Attestor resolved 2026-07-26 by a HUMAN READ of the signed May 2026 report: Deloitte & Touche LLP, San Francisco, signed 25 June 2026. The firm name is image-only — letterhead logo and signature graphic — and is absent from the PDF text layer, which is why the 2026-07-25 text extraction found no "Deloitte", no "Touche" and not even "LLP", and correctly refused to name a firm. The report is an Independent Accountants Report on management's assertion by Standard Custody & Trust Company, LLC (a New York limited purpose trust company and Ripple Labs subsidiary), an AICPA examination — reasonable assurance — concluding in the opinion form, against criteria drawn from the New York State Department of Financial Services guidance of 8 June 2022. It carries TWO Report Dates, 18 and 29 May 2026 at 5:00pm ET, and no month-end date. Ripple's page at ripple.com/solutions/stablecoin/transparency/ states only that "Attestations are performed by an independent Certified Public Accountant (CPA) licensed in the United States"; the firm's identity comes from the report, not from that page.

Reserves per Paxos Digital Singapore Pte. Ltd. (Global Dollar Network)'s KPMG LLP attestation — see the issuer's report.

assurance not read

Not read. Paxos's page names the FRAMEWORK — ISCA, the Singapore standards, not AICPA — and calls the engagement an "examination", but ISCA's assurance standards name their engagements by level (reasonable or limited assurance), so the page's wording does not map cleanly onto a level without the report. Classifying it from the page would be exactly the inference this field exists to prevent. The USDG report itself has not been read.

Verified 2026-07-25 on paxos.com/usdg-transparency — Paxos hosts this, not globaldollar.com, which is why the earlier probe 404'd. The page states verbatim that "Attestation reports posted on or after February 27, 2026 are issued by KPMG LLP, an independent third-party accounting firm" whose "examination is conducted in accordance with standards established by the Institute of Singapore Chartered Accountants (“ISCA”)", and that reports before that date "were issued by Enrome LLP". Research naming Enrome described the OUTGOING signer. The examination standard here is ISCA, not AICPA, reflecting Paxos's Singapore regulation.

Reserves per First Digital Labs's AOGB CPA Limited attestation — see the issuer's report.

limited assurance issuer's own criteria

Limited assurance — a deliberately weaker claim than an opinion: the accountant states only that nothing came to their attention suggesting the schedule is misstated (ISAE 3000R limited assurance engagement). Criteria are MANAGEMENT-DEFINED: the issuer's own stated basis of preparation for the reserves account, per the report's criteria section — not a supervisor's conditions. A clean report on management-defined criteria says the reserves met the issuer's own stated policies — policies the issuer also writes and can change. As of: 2026-06-30.

Attestor resolved 2026-07-26 by a HUMAN READ of the signed June 2026 report: AOGB CPA Limited, an ISAE 3000R LIMITED-assurance engagement as of 30 June 2026. The firm name is image-only — letterhead and signature graphics, absent from the PDF text layer — which is why the 2026-07-25 text extraction of both June PDFs yielded no firm name at all (the signed companion is a 1.95 MB scan giving 4kB of text; the ISAE 3000 report's body is glyph-encoded, so "AOGB", "ISAE" and "Limited" were all unreadable) and only the document metadata referenced aogb.com. Metadata is not a signature block, so the name was correctly withheld until someone read the page. Research naming "Prescient Assurance" was wrong and is not adopted. firstdigitallabs.com/transparency answers 200 (the earlier 403 has cleared) and links a continuous monthly series through June 2026, with the issuer's own filenames stating the standard and period — e.g. "ISAE3000 - Attestation Report on Reserves Account (June 2026).pdf". Note that the dashboard's own header can lag the newest linked report.