Tether Passes Independent Security Audit

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Tether, the creator of the USDT stablecoin, has announced the successful completion of its System and Organization Controls 2 (SOC 2) Type I audit.

SOC 2 is a thorough audit process developed by the American Institute of CPAs (AICPA) to assess the control and reporting procedures of an organization. Specifically, it evaluates their ability to manage cybersecurity risks, with a focus on protecting data privacy and confidentiality.

According to Tether CEO Paolo Ardoino, this compliance measure assures customers that their assets and data are being managed in an environment that adheres to the highest standards for data protection and information security.

The company also emphasized its commitment to consistently updating its security strategy by incorporating innovative technologies and prioritizing transparency and accountability to stablecoin users.

Furthermore, Tether has committed to undergoing an annual SOC 2 audit, with plans to obtain SOC 2 Type II certification by 2024-2025. This certification evaluates an organization’s internal controls over a 12-month period to ensure their effectiveness.