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Tapbit unveils independent Proof of Reserves with high asset backing and insurance fund
Tapbit announced the publication of its Proof of Reserves, independently audited by Hacken, showing reserve ratios of 2,341% for BTC and 125% for USDT, as well as an insurance fund exceeding $50 million USDT to support user asset backing and verification.
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Tapbit has published its Proof of Reserves framework, presenting reserve ratios of 2,341% for BTC and 125% for USDT, according to an independently conducted audit by Hacken. The disclosure also notes a $50 million USDT insurance fund, which is intended to serve as additional backing for user assets in the event of security incidents or losses. Tapbit’s Proof of Reserves process includes regular third-party audits and on-chain verification, using cryptographic methods that enable users to confirm the inclusion of their assets without exposing other account data. The initiative is presented as a transparency measure, offering users access to the audit report and ongoing confirmation of reserve sufficiency.
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Tapbit is a cryptocurrency trading platform that supports spot and futures markets, P2P exchanges, and the purchase of cryptocurrencies using 45 fiat currencies. Users can access over 800 assets via a web platform or mobile app, with competitive fees and a range of deposit and withdrawal options. Additional features include copy trading, the Earn service for passive income opportunities, and licenses from the NFA and SVGFSA, while educational resources and analytical tools are not provided. For more information, visit the broker profile on Traders Union: Tapbit broker profile on Traders Union.
For more background, you can read about Tapbit’s recent introduction of tiered crypto savings with up to 6% APY on Bitcoin deposits in our earlier news about Tapbit.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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