KuCoin, one of the largest exchanges worldwide, announced that it has engaged Mazars, a leading international audit, tax and advisory firm, to provide a third-party factual findings report.
Mazars will provide greater transparency and reporting on whether their in-scope assets are collateralized to KuCoin’s current and potential consumers. It will also give specifics to demonstrate KuCoin’s proof of reserves and client liability, which will account for customers’ primary, trading, margin, robot, and contract accounts, among other things, for BTC, ETH, USDT, and USDC.
“As People’s Exchange, we place the safety and security of users’ funds as its top most priority. This move is the next step in our efforts to provide transparency on our users’ funds, highlighting our commitment to transparency and strengthening industry trust. KuCoin has been committed to providing users with safe and easy-to-use platforms and products since day one, while making continuous progress in user protection, transparency, and risk control. It is a great pleasure to engage Mazars, a leading audit, tax and advisory firm, to provide users with a safe and credible platform during the turbulent period of the industry and to promote the development of the industry.”
Johnny Lyu, CEO of KuCoin
“After recent events there is a dire need in the industry for additional transparency and we are confident that Mazars’ PoR service offering to KuCoin and other international cryptocurrency exchanges will aid in building trust through transparency,”
Wiehann Olivier, Partner and Digital Asset Lead.