Our Approach to Attestations

1 min read
Ben Milne | Brale
Chase Merlin | Brale
Ramin Wright | Brale
Andrea Roy | Brale

We've been refining our approach to attestations based on community feedback, and are happy to announce that public attestations of Stable Coin (SBC) and Glo Dollar (USDGLO) are now available.

SBC Attestation

Stable Coin (SBC) attestation graph screenshot |
Brale

USDGLO Attestation

Glo Dollar (USDGLO) attestation graph screenshot |
BraleP

Stablecoin supply and reserve assets are now reported monthly. To provide more transparency, we'll publish daily attestations including the portion of assets held in cash, cash equivalents, and U.S. Treasuries in the near future.

Holdings in every account are reviewed against stablecoins issued on a daily basis, following what we believe is a best practice in reporting. This ensures that reserve assets are always available to manage redemptions.

Third Party Attestations

We're working with certified accounting firms and plan to publish third party audited attestations for all stablecoins issued by Brale in the future.

By combining daily reserve reporting with oversight from an independent accounting firm, we believe our approach to attestations will meet best practices in stablecoin issuance.

We'd love to hear your feedback on how our attestations can be improved. We're considering publishing our attestations on-chain with an oracle network like Chainlink's Proof of Reserve, and welcome thoughts on how you'd like to see this work. We'd also love to hear if there are additional details behind our reserves which would be helpful to share with the community.

We're grateful for your feedback and look forward to sharing what we're building next.

Contributors

  • Ben Milne | Brale

    Ben Milne

    CEO
  • Chase Merlin | Brale

    Chase Merlin

    Sr Product Manager
  • Ramin Wright | Brale

    Ramin Wright

    Head of Operations
  • Andrea Roy | Brale

    Andrea Roy

    Software Engineer