USAT Stablecoin Achieves First Big Four Verification Under New Crypto Act
USAT, a stablecoin issued by Anchorage Digital Bank, has become the first major crypto asset of its kind to receive independent verification from a Big Four accounting firm. Deloitte confirmed on February 27, 2026, that the token's reserves fully back its 17.5 million circulating tokens, ensuring a 1:1 peg to the US dollar.
The verification report shows USAT holds $17.6 million in reserves against 17.5 million tokens in circulation. This includes $3.65 million in cash and $13.95 million in short-term, collateralised repo assets. All tokens remain redeemable on demand, reinforcing the stablecoin's reliability.
No other major stablecoin provider has achieved this level of independent scrutiny since the GENIUS Act was published in July 2025. USAT's compliance with the new regulations sets a benchmark for transparency in the industry.
Deloitte's review covers reserves as of January 31, 2026, marking a milestone for stablecoin oversight. The move aligns USAT with stricter financial reporting standards, addressing long-standing concerns about reserve backing in the crypto sector.
The verification places USAT ahead of competitors in regulatory compliance. With full reserve backing and on-demand redemption, the stablecoin meets the GENIUS Act's requirements. This development could influence how other issuers approach transparency and auditing in the future.
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