Falcon Finance has taken a significant step towards enhancing transparency in the stablecoin market by releasing its inaugural Independent Quarterly Audit Report on USDf Reserves. Conducted by Harris & Trotter LLP, the report provides crucial insights into the backing of USDf tokens, reinforcing the company's commitment to accountability and compliance. According to the conclusions drawn in the analytical report, the findings are expected to bolster investor confidence in the stablecoin ecosystem.
Audit Confirms Stability of USDf Tokens
The audit confirms that all USDf tokens currently in circulation are fully backed by reserves that exceed liabilities, ensuring the stability of the stablecoin. These reserves are securely held in segregated, unencumbered accounts specifically for USDf holders, which underscores Falcon Finance's dedication to safeguarding user assets.
Thorough Assurance Review Process
Conducted under the International Standard on Assurance Engagements ISAE 3000, the assurance review meticulously verified wallet ownership, collateral valuation, user deposits, and the sufficiency of reserves. In addition to this quarterly audit, Falcon Finance maintains a Transparency Page that provides weekly updates on USDf issuance and reserves, with plans for ongoing third-party reviews to uphold accountability.
Commitment to Transparency and Trust
Andrei Grachev, Founding Partner of Falcon Finance, emphasized the importance of independent quarterly audits in fostering trust within the stablecoin infrastructure. He noted that this review not only confirms that USDf is fully collateralized but also highlights a diversified reserve base designed for resilience. The release of this report sets a new benchmark for transparency and collateral management in the stablecoin sector, with future quarterly reports anticipated.
