Yield App Passes ‘Proof of Reserves’ Audit to Bolster Safety and Accountability of Deployed Digital Assets

PRESS RELEASE. Yield App, 1 of the rising and astir trusted integer wealthiness platforms, precocious underwent a thorough ‘proof of reserves’ audit. The inspection was conducted by Armanino LLC, the steadfast liable for auditing Kraken – 1 of the largest and astir trusted cryptocurrency exchanges successful the world.

Yield App passed the audit with flying colors, bolstering its stance connected information and accountability of the assets deployed by customers into portfolios disposable connected its platform.

What is ‘proof of reserves’?

A impervious of reserves is an autarkic audit of a company’s equilibrium expanse conducted by a 3rd party, specified arsenic Armanino LLP. These cryptographically reconciled nationalist reports empower customers to verify that the integer plus work providers they usage bash so clasp capable assets connected their equilibrium sheets to offset their customers’ liabilities.

The archetypal study was completed connected 24 January 2022, utilizing a ‘point successful time’ methodology to find the results, and tin beryllium work here. Yield App plans to proceed moving with Armanino LLP and different third-party accreditation work providers to merchandise regular autarkic reports and support customers informed via its blog posts.

About Armanino LLP

Armanino LLP is 1 of the apical 25 largest autarkic accounting and audit firms successful the United States. It precocious audited Kraken to acceptable a precedent for companies operating successful the integer plus space, astatine a clip erstwhile galore radical stay hesitant to put successful cryptocurrencies fearing a mishandling of their hard-earned assets.

The auditor is engaged by galore starring blockchain firms, including stablecoin issuers and wealthiness absorption platforms amongst its 7,000+ clients. Armanino LLP does this successful accordance with attestation standards issued by the American Institute of Certified Public Accountants, ensuring afloat transparency and helping to instill trust.

About Yield App

Launched successful February 2021, Yield App is simply a rapidly increasing integer wealthiness platform. In conscionable implicit a twelvemonth since launch, the level has already managed to pull astir 80,000 customers who person deployed much than $500 cardinal dollars into Yield App portfolios. The level precocious expanded its stablecoins offering with TUSD, successful summation to USDT, USDC and DAI, and besides offers BTC and ETH earning portfolios. Its earning products supply market-leading yearly involvement to its customers.

Given the deficiency of cardinal authorization oregon standardized governance that requires accent investigating of work providers successful the integer plus space, audits similar the 1 conducted by Armanino LLP are a connection of committedness towards transparency and longevity and volition assistance guarantee prospective customers who are traditionally cautious of the cryptocurrency space.

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