In the Independent Accountants’ Report, Bpm wrote:
“We have examined management of Standard Custody & Trust Company, LLC’s assertion included in the accompanying RLUSD Reserves Report that the Company complied with item 3(a) of the New York State Department of Financial Services industry letter dated June 8, 2022.”
The firm described its methodology by explaining: “Our examination was conducted in accordance with attestation standards established by the AICPA,” and clarified its scope by adding: “Our examination does not provide a legal determination on the company’s compliance with specified requirements.”
The audit delivers a favorable conclusion that supports the optimistic tone of McDonald’s post. Bpm’s opinion states: “In our opinion, management’s assertion that the Company complied with the requirements of item 3(a) of the DFS Letter as of the report dates is fairly stated, in all material respects.” The report also confirms reserve adequacy, noting:
“The market value of the reserves was, as of the report dates, equal to or greater than the nominal value of all RLUSD outstanding.”
FAQ ⏰ What did the latest RLUSD audit confirm? The audit confirmed RLUSD reserves fully meet New York Department of Financial Services requirements. Who conducted the independent RLUSD attestation? Accounting firm Bpm performed the independent examination of RLUSD reserves. What assets back RLUSD reserves? RLUSD is backed by U.S. dollar–denominated assets, including bank deposits, money-market funds, and Treasury bills. Why is RLUSD gaining institutional attention? Verified reserve reporting and regulatory alignment are driving institutional trust and adoption.
