KuCoin, one of the world’s largest cryptocurrency exchanges, announced that it has agreed with Mazars, a leading international auditing, tax and advisory firm, to provide the third-party fact-finding report.
In this context, Mazars will provide KuCoin’s customers and potential customers with additional transparency and reporting on whether their assets are secured. In addition, KuCoin will provide Proof of Reserve details and user obligations in line with this study. Liabilities will take into account BTC, ETH, USDT, and USDC coins in users’ main, spot, margin, trading bot and Futures accounts, respectively.
KuCoin CEO Johnny Lyu He made the following statement on the subject:
“As the People’s Exchange, we consider the security of users’ funds as the highest priority. This move is a step forward in our effort to ensure transparency in our users’ funds, our commitment to transparency, and to strengthen industry confidence. Since day one, KuCoin has been committed to providing users with safe and easy-to-use platforms and products, while also making continuous progress in user protection, transparency and risk control. It is a pleasure to work with Mazars, a leading audit, tax and consultancy firm, to provide users with a reliable platform and support the development of the industry during the turbulent times of the industry.”
Wiehann Olivier, Mazars Partner and Head of Digital Asset made the following statement:
“After recent events, there is a serious need for additional transparency in the industry. We are confident that the PoR (Proof of Reserve) service Mazars offers to KuCoin and other international cryptocurrency exchanges will help build trust by providing transparency.”
For more, you can visit the official website: https://www.kucoin.com/tr
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