Tether taps Deloitte for first USAT reserve report

CoinDesk

by Francisco Rodrigues

March 3, 2026

AI-Generated Deep Dive Summary

Tether, a leading stablecoin issuer, has collaborated with Deloitte to release its first reserve report tied to the newly launched USAT token, marking a significant milestone in the company’s relationship with major accounting firms. The report, reviewed by Deloitte, reveals that Anchorage Digital Bank, which issued the USAT tokens, reported $17.6 million in reserve assets supporting 17.5 million USAT tokens in circulation. Since the report was released, the token's market cap has surged to nearly $20 million, reflecting its accelerating growth. This comes amid a broader expansion of the stablecoin sector, which now exceeds $315 billion in total market capitalization, with Tether’s USDT dominating at $183 billion and Circle’s USDC following at $76 billion. The release of the reserve report aligns with the Genius Act, a regulation passed last summer that imposes stricter rules on stablecoin issuers, requiring them to operate under federal

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Originally published on CoinDesk on 3/3/2026