The accounting firm MooreHK provides assurance services for TUSD and issues the first reserve proof report

Today, we are pleased to announce that TUSD has completed a comprehensive upgrade of its reserve verification system. Starting today, the renowned accounting firm Moore Hong Kong ("MooreHK") officially begins providing daily verification services for TUSD. In addition to continuing its collaboration with The Network Firm, which combines its technical solutions, the upgraded verification report also discloses further details about TUSD's reserve funds held by its financial and trust partners. This move aligns with TUSD's commitment to continuously improve its stablecoin operations through technological innovation and enhanced industry collaboration.

Founded in 1975, MooreHK provides a full range of services including auditing, verification, accounting, business outsourcing, tax, and other consulting services, and is one of the key member firms of Moore Global. Moore Global is a century-old accounting and consulting network rooted in the UK, renowned worldwide, with member firms spread across the globe, ranking among the industry's top firms.

Partnering with MooreHK is another significant step for TUSD in its commitment to developing an international strategy following its offshore operations launched in July 2023. This collaboration will positively enhance the transparency of TUSD's reserve information and steadily promote TUSD as a leading stablecoin in the industry. Meanwhile, The Network Firm, which focuses on crypto auditing, will collaborate with MooreHK to provide industry-leading technical support for TUSD's reserve verification.

For a long time, TUSD has maintained cooperation with third-party accounting firms to continuously explore new technological paradigms and improve verification methods for the blockchain industry, providing a new model for reserve verification and on-chain reserve proof, setting a benchmark for transparency in the stablecoin ecosystem.

A TUSD spokesperson stated, "We are very aware of the importance of reserve verification for stablecoins. Healthy and sufficient reserves are a crucial support for our future growth and development. MooreHK and The Network Firm will become important partners on our journey, providing strong support for TUSD's upcoming market expansion."

MooreHK's Senior Audit Director, Zhu Meiru, stated, "We look forward to collaborating with The Network Firm to enhance TUSD's transparency by utilizing advanced verification tools, providing clients with reserve proof reports that allow them to accurately monitor the corresponding asset backing of their stablecoins."

MooreHK's Managing Director of Consulting Services, Luo Boda, stated, "MooreHK is committed to providing innovative solutions for clients, and we are excited to have the opportunity to work with TUSD. The collaboration with The Network Firm will bring many possibilities and prospects to the blockchain ecosystem in the Asia-Pacific region. As blockchain systems standardize transaction processing across various industries, certified public accountants will provide the necessary verification for users of this technology with their skills, independence, objectivity, and expertise."

In the future, TUSD will continue to explore more application developments and user experience possibilities, providing users with safe, stable, and transparent stablecoin services. To learn more about TUSD or to download the reserve proof report, please visit the official website at tusd.io.