TUSD Engages Leading Accounting Firm MooreHK to Provide Attestation Service on its Fiat Reserve

News release by TUSD

Singapore | December 27, 2023 01:49 PM Eastern Standard Time

Today, we are delighted to announce that TrueUSD (“TUSD”) has entered into an engagement with leading accounting firm, Moore Hong Kong (“MooreHK”). Beginning in late January 2024, MooreHK will start providing daily attestation services to TUSD and presenting daily attestation reports for its stakeholders and TUSD token holders, marking the latest enhancement to TUSD's reserve attestation system.

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 of this year, further developing its focus on creating accessibility in important capital markets. We believe that our 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 specialising 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. Our 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, "We fully recognise the significance of reserve attestations for stablecoins. Having a robust reserve is pivotal to bolster our future growth and development. Both MooreHK and The Network Firm will be our 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 utilising 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 our 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 standardising 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 in real-time by The Network Firm LLP, an independent and industry-specialized certified public accountant (CPA) 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