Paolo Ardoino, who currently serves as Tether Chief Technical Officer and is set to become the CEO, has announced that the company intends to commence real-time publication of reserve data in 2024, as reported.

Tether Holdings, the issuer of the world’s largest stablecoin, Tether, is reportedly considering increasing the frequency of its reserve data reports.

As per Tether’s transparency page, the stablecoin issuer currently updates its reserve data at least once daily. Tether also publishes monthly reserve reports and conducts quarterly reserve reviews in addition to its regular updates.

While numerous cryptocurrency markets experienced a downturn in 2023, the company responsible for issuing USDT has shown significant growth in the past year. Tether’s Q2 update revealed that the company’s assets increased by 5.7% to reach $86.5 billion. The firm also reported a “operational profit” exceeding $1 billion, marking a 30% increase from the previous quarter.

Tether has experienced a surge in stablecoin lending in 2023, even though the company had completely eliminated such loans in December 2022.

According to Tether’s Q2 attestation conducted by the accounting firm BDO, the company augmented its excess reserves by $850 million, resulting in a total of $3.3 billion in excess reserves. Additionally, the company revealed it held $72 billion worth of indirect exposure to United States Treasurys through investments in money market funds, and U.S. Treasurys were used as collateral for its overnight repo operations.