EURST Utilizes Real-Time Audit Solution to Embrace Transparency

By October 13, 2021Ethereum
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EURST, a live audited asset-backed stablecoin​​, has announced today the launch of their live audit dashboard with Armanino LLP, one of the 25 largest accounting and business consulting firms in the U.S.

Utilizing blockchain technology to connect on-chain data with off-chain data, the real-time-audit solution provides downloadable attest reporting to all site visitors. This feature is a ​​fundamental systemic change as it allows highly available trust and transparency, all under audit examination standards backed by Armanino’s opinion.

EURST is one of the first stablecoins to embrace this level of reporting and transparency. EURST supports Ethereum and nodes to obtain audit evidence for the EURstablecoin.

With real-time attest, EURST is able to collect and preserve records continuously, conduct a risk assessment at inception and ensure accuracy through automated controls supported by periodic manual procedures. Instead of relying on “point-in-time” reports that are stale as soon as they are distributed, real-time audits ensure information is always current and relevant.

“The companies whose mission is to provide their customers the necessary transparency, security, and peace of mind, will emerge victorious in the crypto ecosystem. As regulatory interest is increasing in the cryptocurrency industry, we at EURST are setting an example to our clients and investors that the assets entrusted to us are indeed in good hands, a testament to which is the independent audit by Armanino. We challenge our peers in the crypto industry to follow our lead,” said Simone Mazzuca, CEO & Founder at Wallex Bank and EURST.

About EURST

EURstablecoin is a fiat-backed stablecoin created by Wallex Trust and based on the Ethereum network’s ERC20 token standard. EURST tokens are and will always be fully backed by an equivalent unit of real currency (US dollars) in a real-time audited and transparent reserve for the benefit of the Wallex Trust customers, the primary issuer of EURST tokens.

Token issuance/redemption transactions are recorded on-chain, in addition to regular third-party audits. The presence of a physical, real-time audited, and redeemable USD reserve effectively pegs the market value of EURST tokens to the real-time Dollar value of 1 Euro. For more information, visit this website.

About Armanino

Armanino LLP is one of the 25 largest independent accounting and business consulting firms in the nation. Armanino provides an integrated set of audit, tax, business management, consulting, and technology solutions to companies in the U.S. and globally.

The firm helps clients adapt and change in every stage of business, from startup through rapid growth to the sale of a company. Armanino emphasizes smart technology, leading a cloud revolution of financial, operational, sales, and compliance tools that are transforming the way companies do business.

The firm extends its global services to more than 100 countries through its membership in Moore Global, one of the world’s major accounting and consulting membership organizations. In addition to its core consulting and accounting practices, Armanino operates its division, AMF Media Group, a media and communications services agency. Its affiliate, Intersect Capital is an independent financial planning, wealth, and lifestyle management firm.

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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