Tether, one of the leading stablecoin issuers, announced that it has completed its Systems and Organizational Controls 2 (SOC 2) audit, which represents the highest level of security compliance an organization can achieve. This independent audit, developed by the American Institute of Certified Public Accountants (AICPA), highlights Tether’s commitment to ensuring a safe user experience.
Paolo Ardoino, CEO of Tether, emphasized the importance of this compliance measure to ensure customers that their assets and data are managed in an environment that complies with the highest standards of data protection and information security. Ardoino emphasized Tether’s commitment to becoming the world’s most trusted and compliant stablecoin.
In line with our ongoing commitment to security, Tether has committed to undergoing an annual SOC 2 audit to ensure that our security practices consistently meet established standards. The company aims to achieve SOC 2 Type II certification by the end of 2025, which assesses the effectiveness of internal controls over a 12-month period.
USDT, Tether’s flagship stablecoin, has a market capitalization exceeding $104 billion, making it the third-largest cryptocurrency by market capitalization after Bitcoin and Ethereum. The recent milestone of reaching a market capitalization of $100 billion on March 4 reflects a remarkable 9% year-to-date growth.
Beyond stablecoins, Tether is branching into new areas. The company plans to invest approximately $500 million to build Bitcoin mining facilities in Uruguay, Paraguay, and El Salvador. Tether aims to scale its direct mining operations to 450 MW by the end of 2025, with the goal of increasing computing power to account for 1% of the Bitcoin mining network. The company’s approach involves installing facilities within mobile containers to adapt to electrical changes. price.
Ardoino emphasized that Tether’s mining efforts are focused on gradual learning and growth, and that it is in no rush to become the world’s largest miner. This strategic expansion is consistent with Tether’s broader vision for innovation and resilience in the cryptocurrency ecosystem.
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