Falcon Finance has published its first Independent Quarterly Audit Report on USDf reserves, confirming that all tokens in circulation are fully backed by assets that exceed liabilities, Finbold has learned.
The review was conducted by audit firm Harris & Trotter LLP under the International Standard on Assurance Engagements (ISAE 3000).
Independent validation of reserves
According to the report, USDf reserves are held in segregated, unencumbered accounts on behalf of token holders.
The audit verified wallet ownership, collateral valuation, user deposits, and overall reserve sufficiency. Falcon Finance also publishes weekly verification of USDf issuance and reserves through its Transparency Page, with additional third-party reviews planned.
“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,” said Andrei Grachev, Founding Partner of Falcon Finance. “At Falcon, we are building stable, yield-generating infrastructure that meets the expectations of institutions, regulators, and onchain users alike.”
The publication of the first quarterly audit sets a framework for regular reporting on USDf’s collateral base, with Falcon positioning the stablecoin as compliant and transparent infrastructure for institutional and on-chain adoption.
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