VENUEVERITAS

STABLECOIN EVIDENCE

USD1

Fiat-reserve backedPeg USDUSD1

Fiat-reserve USD token issued and redeemed by BitGo Bank & Trust, N.A. World Liberty Financial owns brand/IP but does not issue or custody USD1.

Compare USDT vs USD1Inspect primary evidence

Detail ready · Core-10 evidence

What backs this stablecoin?

Reserve composition from published evidence. Missing percentages are not inferred.

Reserve reportJul 31, 2026
AssuranceKPMG LLP · Assurance report
Evidence stateCurrent verifiedFresh evidence ≠ safe
  • Government Money Market funds (CUSIP 31607A703)2.90B USD
  • Demand Deposit Accounts1.10B USD

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Backing Flow

Holder → issuer or protocol → backing → custody or hedge → verification. Unknown links stay labeled UNKNOWN.

HolderToken holder
IssuerBitGo Bank & Trust, N.A.
BackingBitGo-held reserves
Backing assetsGovernment MMF / bank deposits
VerificationKPMG examination

Can you redeem it directly?

Exchange trading is not issuer redemption.

Direct issuer redemption

Eligibility restricted

Eligible
Eligible BitGo customers
KYC
Required
Minimum
Not published
Fee
Not published

Who controls what?

Who can mint, freeze, pause, upgrade, or govern — as evidence, not a safety score.

ControlPresentControllerEvidenceSource
MintYESBitGoVERIFIED—
FreezeUNKNOWNUNKNOWNUNRESOLVED—
BlacklistUNKNOWNUNKNOWNUNRESOLVED—
PauseUNKNOWNUNKNOWNUNRESOLVED—
UpgradeUNKNOWNUNKNOWNUNRESOLVED—
GovernanceUNKNOWNUNKNOWNUNRESOLVED—

Mint

YES

ControllerBitGo

Freeze

UNKNOWN

ControllerUNKNOWN

Blacklist

UNKNOWN

ControllerUNKNOWN

Pause

UNKNOWN

ControllerUNKNOWN

Upgrade

UNKNOWN

ControllerUNKNOWN

Governance

UNKNOWN

ControllerUNKNOWN

How is the backing independently checked?

Report type matters.

Assurance report

Independent assurance / examination of a reserve assertion — not “audited” shorthand.

Provider
KPMG LLP
Report
AICPA examination — not an audit shorthand
Report date
Jul 31, 2026
Covered assets
Redemption assets
Covered liabilities
Redeemable tokens outstanding
Scope limitation
Opinion does not extend to other website information

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Reserve history

Append-only verified snapshots only. No synthetic series.

Latest verified snapshot

Jul 31, 2026

KPMG LLP examination — USD1 Reserve Report July 2026

4.00B USD · circ 4.00B USD

Current verifiedFresh evidence ≠ safe

What does this stablecoin depend on?

Structural dependencies only.

  • BitGo
  • Government MMF
  • U.S. banks

Answer-first evidence blocks

What backs USD1?

As of 2026-07-31 KPMG examination: government MMF (CUSIP 31607A703) and demand deposit accounts held for redemption assets.

Who issues USD1?

BitGo Bank & Trust, N.A. World Liberty Financial is brand/IP — not the issuer or custodian.

Regulatory structure

  • Issuer is BitGo Bank & Trust, N.A. — entity-scoped.
  • WLF GENIUS Act alignment is a claim, not a verified licence grant.

Unresolved / open gaps

  • Named commercial bank list
  • BitGo-titled segregated accounts at U.S. commercial banks / regulated FI; named banks UNKNOWN.

Related evidence links

Stablecoin Evidence interface. No safety score. No investment recommendation. Unresolved evidence remains unresolved.