TrueUSD Taps Accounting Firm MooreHK to Daily Audit Fiat Reserves

TrueUSD, in a Thursday, December 28 press release, confirmed partnering with MooreHK to solidify transparent stablecoin issuer. The firm behind TUSD stablecoin hailed the engagement as a platform to cement its position as an industry-leading stablecoin founded on trustworthy and transparent pillars. 

The renowned accounting firm will offer daily attestation services to the reserves of TUSD. Moore Hong Kong will present daily attestation reports informing stakeholders of the reserves. 

MooreHK to Bolster TUSD Efforts to Expand Globally 

MooreHK’s origin traces to 1975 when it was unveiled as a member of Moore Global, which is among the global leaders in accounting and consulting. The Moore Global Group traces its roots to the UK, where it has operated for over 100 years. 

The Thursday statement by TrueUSD profiled MooreHK as a successful firm that leverages its industry focus. Doing so enables the firm to offer tailored yet innovative services to the clients. 

MooreHK runs operations from the input of selectively assembled experts with proven commercial-astute professionalism. As such, Moore Hong Hong has emerged among market leaders offering comprehensive services, including assurance, accounting, tax, advisory and accounting, besides business outsourcing. 

The collaboration with MooreHK constitutes a critical step that facilitates TUSD’s globalization initiative. TrueUSD considers the partnership timely to the globalization efforts unveiled in July 2023 as the firm eyes accessibility creation within the critical capital markets. 

TrueUSD considers MooreHK’s expertise critical to solidifying its trustworthy and transparent stablecoin issuer position. 

 The press release indicated that the collaboration features The Network Firm. The certified accounting firm that audits tech firms will deploy its infrastructure specializing within the crypto industry. The firm will offer technical support to MooreHK. 

TrueUSD disclosed that it has recently collaborated with third-party auditing firms in an effort to explore the provision of innovative solutions within the blockchain industry. TUSD reiterated that its integrated approach facilitates reserve attestation. 

TUSD spokesperson indicated that integrating on-chain proof of reserve is fundamental to realizing transparency within the stablecoin ecosystem. 

The TUSD executive admitted the importance of reserve attestations for the stablecoins. Achieving robust reserves bolsters opportunities for TUSD to realize growth and scaled development. 

TUSD to Offer Real-time Attestations for Reserves

The executive considered the engagements with MooreHK and The Network Firm to constitute a critical infrastructure that offers strong support for its forthcoming market expansion. 

Michelle Chu, the senior assurance director at MooreHK, labelled collaboration with The Network Firm as an unmatched breakthrough. He considered the engagement to align with TrueUSD’s devotion to offering real-time attestations for the reserves backing its USD-pegged stablecoin.

Chu reiterated that MooreHK will utilize advanced attestation tools to enhance the TUSD transparency. The provision of real-time attestation resorts is considered critical for the TUSD users, thereby setting the stablecoin issuer apart from rivals whose reserves are a subject of increased scrutiny and speculation. 

The provision of real-time attestation reports contradicts other stablecoins issuers, including market leader Tether, whose reserves for USDT are repeatedly questioned and doubted. 

MooreHK Prioritizes Innovation-Led Solutions to Blockchain Technology

Patrick Rozario, the managing director for the MooreHK Advisory Services unit, reaffirmed MooreHK’s devotion to offering innovative solutions to clients. He hailed the opportunity to work with TrueUSD in its quest for building a transparent stablecoin ecosystem. 

Rozario explained that collaborating with The Network Firm yields numerous possibilities for TrueUSD and the blockchain ecosystem within the Asia Pacific market. 

Blockchain systems have emerged as a critical solution to standardizing transaction processing in multiple sectors. The move presents opportunities for certified public accountants such as MooreHK to deploy their skill sets, expertise and objectivity in offering assurance to tech users. 

The press release assured that TUSD will explore other innovative ways to enhance its user experience and TUSD development. Besides, the stablecoin issuer targets consistently delivering secure, transparent and stable operations for its US-dollar pegged stablecoin. 

TUSD urged users to access the reserve attestations in reports available on its tusd.io platform. 

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