Overview
- Deloitte issued an independent attestation dated Feb. 27 confirming Anchorage reported $17.6 million in assets backing about 17.5 million USAT tokens as of Jan. 31.
- Reserves consisted of $3.65 million in cash and $13.95 million in very short‑term reverse repos collateralized by U.S. Treasuries, held in segregated fiduciary accounts.
- Anchorage stated that all USAT tokens are redeemable on demand with no restricted classes, reinforcing the intended 1:1 dollar peg.
- The engagement was a point‑in‑time attestation under AICPA criteria rather than a full audit or assessment of internal controls or legal compliance.
- USAT launched in late January under OCC‑supervised Anchorage to align with the 2025 GENIUS Act, and its market cap has since approached $20 million within a stablecoin sector exceeding $300 billion.