Tether Achieves Gold Standard for Security, Earns SOC 2 Compliance

Tether, a leading stablecoin issuer, recently completed a SOC 2 audit, attaining the highest level of security compliance. This demonstrates Tether's commitment to securing user data and ensuring a trustworthy and compliant stablecoin experience. CEO Paolo Ardoino highlights the importance of this compliance measure, pledging annual SOC 2 audits to maintain adherence to established security standards.

Tether Achieves Industry-Leading SOC 2 Compliance, Underscoring Unwavering Commitment to Security and Trust

Tether, the esteemed issuer of the widely adopted stablecoin USDT, has attained the pinnacle of security compliance by successfully completing a System and Organization Controls 2 (SOC 2) audit. This rigorous independent audit, administered by the American Institute of Certified Public Accountants (AICPA), serves as a testament to Tether's steadfast dedication to safeguarding the assets and privacy of its users.

Paolo Ardoino, the CEO of Tether, expressed the profound significance of this milestone, emphasizing that it provides customers with irrefutable assurance that their assets and sensitive information are meticulously managed within an environment that adheres to the most stringent data protection and information security protocols. Ardoino reiterated Tether's unwavering aspiration to be the most trusted and compliant stablecoin worldwide.

In unwavering pursuit of its security mandate, Tether has voluntarily committed to annual SOC 2 audits, ensuring that its security practices continually align with the highest established standards. The company's unwavering objective is to attain SOC 2 Type II certification by the end of 2025, a certification that meticulously evaluates the effectiveness of internal controls over a 12-month period.

USDT, Tether's flagship stablecoin, has amassed an impressive market capitalization that exceeds $104 billion, propelling it to the position of the third-largest cryptocurrency globally, trailing only Bitcoin and Ethereum. USDT's recent triumph of surpassing the $100 billion market capitalization milestone on March 4th underscores its formidable growth trajectory, exhibiting a notable 9% year-to-date surge.

Tether's ambitions extend beyond the realm of stablecoins as the company embarks on a bold new chapter. The company has pledged to invest approximately $500 million in the development of Bitcoin mining facilities in Uruguay, Paraguay, and El Salvador. Driven by the aspiration to expand its computing power to encompass 1% of the global Bitcoin mining network, Tether aims to augment its direct mining operations to an impressive 450 MW by the end of 2025. The company's innovative approach entails establishing mining facilities within adaptable containerized structures, enabling it to nimbly navigate fluctuating electricity prices.

Ardoino emphasized that Tether's mining endeavors are characterized by a pragmatic approach that prioritizes gradual learning and growth, eschewing any aspirations to become the world's largest miner overnight. This strategic expansion aligns harmoniously with Tether's broader vision of fostering innovation and resilience throughout the cryptocurrency ecosystem.