Tether Gold issuer completes KPMG audit, receives unqualified opinion

TG Commodities, the issuer of Tether’s gold-backed stablecoin Tether Gold (XAUT), announced it completed an audit of last year’s financial statements by KPMG and received an unqualified opinion. KPMG also directly inspected all 520,089.35 troy ounces of physical gold held in Swiss vaults, worth $2.246 billion, confirming they fully back the 520,089.3 XAUT in circulation. Tether received its first financial audit from KPMG in August.