USDf, a novel USD-pegged stablecoin by Falcon Finance, is 100% backed by a basket of cryptocurrency assets, according to independent audit firm Harris & Trotter LLP. Falcon Finance will publish such reports every quarter.
Falcon Finance's USDf first reserves audit out
According to the official statement by Falcon Finance, the first Independent Quarterly Audit Report on USDf Reserves has been published. Independent third-party audit firm Harris & Trotter LLP confirmed that all USDf tokens in circulation are fully backed by reserves that exceed liabilities.
As explained by Andrei Grachev, Founding Partner of Falcon Finance, such audits are of paramount importance to the project's long-term roadmap:
Independent quarterly audits are essential for building trust in stablecoin infrastructure. This review confirms that USDf is not only fully collateralized but backed by a diversified reserve base designed for resilience. At Falcon, we are building stable, yield-generating infrastructure that meets the expectations of institutions, regulators, and onchain users alike.
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All reserves are held in segregated, unencumbered accounts on behalf of USDf holders. The assurance review was conducted under the International Standard on Assurance Engagements (ISAE 3000), with procedures verifying wallet ownership, collateral valuation, user deposits and reserve sufficiency.
Falcon Finance also provides weekly verification of USDf issuance and reserves via its Transparency Page, with ongoing third-party reviews planned to maintain accountability.
Building trust through transparency in stablecoin segment
The publication of Falcon Finance’s independent Quarterly Audit report marks an important step in setting higher standards for stablecoin transparency and collateral management, with subsequent quarterly reports to follow.
With reserves confirmed to exceed liabilities and real-time verification available on-chain, Falcon is reinforcing the foundations for compliant, yield-generating financial infrastructure.
As the industry moves toward greater regulatory oversight and institutional adoption, Falcon Finance will continue to prioritize transparency, independent validation and robust collateral frameworks to ensure long-term trust in USDf.
As of press time, USDf reserves are valued at $1.96 billion with a 103.87% protocol backing ratio.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team