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Investing.com -- Tether, a leading figure in the stablecoin industry and the issuer of USD₮, has made a significant move towards full financial transparency by appointing Simon McWilliams as its new Chief Financial Officer (CFO). McWilliams, who brings over two decades of experience in leading large investment management firms through rigorous audits, will take charge of Tether’s ongoing commitment to transparency and regulatory readiness.
The appointment of McWilliams demonstrates Tether’s firm commitment to conducting a full audit, a critical step in elevating industry standards and enhancing regulatory engagement. Tether has already established a benchmark for stablecoin transparency through its quarterly attestations with BDO, one of the top five leading global independent accounting firms. The full audit will provide a higher level of financial integrity and verification of reserves.
This audit is a key part of Tether’s wider strategy to extend its reach across the institutional financial system. In recent months, Tether has been laying the groundwork for these moves, emphasizing its dedication to transparency and regulatory engagement. As part of its global expansion, the company has relocated to El Salvador after securing a Digital Asset Service Provider (DASP) license. These recent developments strengthen Tether’s operational base and set it up for future growth. As policymakers and institutions evaluate the evolving role of stablecoins, Tether is positioning itself as a trusted partner in expanding the global influence of the U.S. dollar.
Paolo Ardoino, CEO of Tether, commented on the appointment of McWilliams, stating, "Simon’s expertise in financial audits makes him the perfect CFO to lead Tether into this new era of transparency. With his leadership, we are moving decisively toward a full audit, reinforcing our role in supporting U.S. financial strength and expanding institutional engagement."
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