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Stablecoin issuers (e.g., Circle): Regular liquidity and reserve audits attested by top accounting firms. These reports confirm that each USDC (or EURC) token is backed at least 1:1 by cash and short-term government securities. Asset manager (Keyrock): Successful SOC 2 Type II and equivalent operational audits covering governance, data protection, and internal controls. This ensures process integrity and compliance with institutional standards.
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