MooreHK, a Leading Accounting Firm, Now Officially Provides Attestation Services for TUSD and Has Released the First Attestation Report

News release by TUSD

Singapore | January 22, 2024 03:01 PM Eastern Standard Time

Singapore, January 22, 2024 - TUSD announces a significant milestone in its dedication to transparency and innovation as the organization completes a full upgrade of its fiat reserve audit system. Commencing on January 16, 2024, Moore Hong Kong (MooreHK), a distinguished accounting firm, officially provides daily attestation services to TUSD. As part of an ongoing collaboration with The Network Firm and the integration of their technical solutions, the enhanced attestation report now offers additional insights into the reserve funds held by TUSD's financial and fiduciary partners. This is in alignment with TUSD's commitment to continuously improving its stablecoin operation via technological innovation and strengthened industry partnership.

Established in 1975, MooreHK is a member firm of Moore Global, one of the world’s foremost accounting and consulting networks with roots in the UK going back over 100 years. MooreHK’s success stems from its industry focus, enabling the firm to provide an innovative and personal service to its clients. With a strong team of expert and commercially-astute professionals, Moore Hong Kong provides a full scope of services that include audit, assurance, accounting, business outsourcing, tax, and other advisory work.

Collaborating with MooreHK is another step that advances TUSD’s globalisation initiative, announced in July 2023, further developing its focus on creating accessibility in important capital markets. TUSD believes that its partnership with MooreHK will further solidify TUSD’s position as a trustworthy and transparent, industry-leading stablecoin. Additionally, The Network Firm, a certified accounting and audit technology firm specializing in the crypto industry, will collaborate with MooreHK to provide state-of-the-art technical support.

Over the years, TUSD has collaborated with third-party audit firms to explore innovative solutions for the blockchain industry. TUSD's integrated approach to reserve attestation, and on-chain Proof of Reserve is the paragon of transparency in the stablecoin ecosystem.

A spokesperson for TUSD said, "TUSD fully recognizes the significance of reserve attestations for stablecoins. Having a robust reserve is pivotal to bolster its future growth and development. Both MooreHK and The Network Firm will be crucial partners, offering strong support for TUSD's forthcoming market expansion."

MooreHK Senior Assurance Director Michelle Chu shared, “We are looking forward to collaborating with The Network Firm. By utilizing advanced attestation tools to enhance the transparency of TUSD and by providing attestation reports, we ensure that TUSD users can monitor its reserves with utmost confidence.”

Patrick Rozario, MooreHK Advisory Services Managing Director said, “MooreHK always strives to provide innovative solutions to its clients. I am excited about the opportunity to work with TUSD. The collaboration with The Network Firm will lead to many possibilities and prospects in Asia Pacific’s blockchain ecosystem. As blockchain systems are standardizing transaction-processing across many industries, certified public accountants, with their skill sets, independence, objectivity, and expertise will be able to provide the much-needed assurance to users of the technology."

Looking ahead, TUSD will continue to explore innovative ways to enhance TUSD development and user experience, ensuring the consistent delivery of secure, stable, and transparent stablecoin operations. For more information about TUSD or to access the reserve attestation reports, please visit TUSD official website at tusd.io.

About TrueUSD

TrueUSD (TUSD) is the first USD pegged stablecoin with live on-chain attestations by independent third-party institutions. It has been listed on 100+ trading platforms such as Binance and Huobi, and is live on 10+ mainstream public chains including Ethereum, TRON, Avalanche, BNB Chain, Fantom, and Polygon. TUSD is attested daily by MooreHK，a global leading accounting firm, and integrated with Chainlink’s industry leading Proof of Reserve to secure minting and further ensure transparency and reliability. TUSD was granted statutory status as authorized digital currency and medium of exchange in the Commonwealth of Dominica on October 7th 2022.

Contact Details

Cristian Ng

pr@trueusd.com