HDO is Audited by Armanino LLP for Transparency

Himalaya Exchange has engaged one of the 25 largest accounting, consulting and technology firms in the U.S., Armanino LLP, to follow the validation standards used by the American Institute of Certified Public Accountants to annually audit the Himalaya Dollar (HDO) reserve, a digital stable coin developed by Himalaya Exchange, to validate and confirm the 1:1 peg of HDO to the US dollar. 

 Armanino LLP is one of the leading accounting firms in the U.S. and is a member of the American institute of Certified Public Accountants (AICPA) and an affiliate of the California Society of Certified Public Accountants (CalCPA). As an audit firm accredited by the Public Company Accounting Oversight Board (PCAOB), it provides global accounting and advisory services in over 100 countries worldwide. 

 In addition to serving prominent technology companies like Uber, Armanino also serves a number of market-recognized stable coin issuers and digital asset management platforms, including Kraken, one of the world’s largest digital asset exchanges. 

 Armanino is known to be the first accounting firm to formally develop and complete a “Proof of Reserves” for a digital asset exchange and it is conducting Proof of Reserves audits for Kraken every six months starting in 2021 to ensure that Kraken’s customers’ bitcoin and Ethereum balances on the platform are secure.

 While governments are in the process of gradually opening up to cryptocurrencies, they are also pushing for tougher regulations. The Himalaya Dollar is a digital stable coin developed by Himalaya Exchange whose reserve consist of cash equivalent assets such as cash and government securities, and whose market value of reserve assets remains equal to the nominal value of all outstanding units of the stable coin. 

 Independently audited by Armanino, its authority and transparency guarantee the true and stable 1:1 value of HDO against the US dollar, providing global investors with a trusted and revolutionary financial solution for the digital age.

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Translator: OXV News Team
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