Our Commitment to Transparency
Farcash is committed to maintaining the highest standards of transparency and regulatory compliance. Our platform uses USDC, a fully regulated stablecoin that maintains a stable value through 1:1 backing with cash and short-dated U.S. government obligations. This page provides information about how we ensure the stability and security of the assets backing our transactions.
Monthly Attestations
The USDC stablecoin used on our platform undergoes monthly attestations by independent accounting firms. These attestations verify that the reserves backing USDC are properly maintained and fully backed.
Monthly attestation reports confirm that for every USDC token in circulation, there is $1 USD held in reserve, providing confidence in the value of digital assets on Farcash.
Quarterly Audits
In addition to monthly attestations, the USDC stablecoin undergoes quarterly audits to provide an even more comprehensive review of the reserves and operations.
These audits offer an additional layer of verification and transparency, ensuring that the stablecoins used on Farcash maintain their value.
Professional Reserve Management
The reserves backing the USDC stablecoin used on Farcash are professionally managed by leading financial institutions.
These reserves are invested in cash and short-dated U.S. Treasury bonds, providing stability and security for all transactions on our platform.
Regulatory Compliance
Farcash is committed to complying with all applicable laws and regulations. We maintain high standards of compliance, including:
Adherence to relevant financial regulations
Compliance with anti-money laundering (AML) and know-your-customer (KYC) requirements
Regular monitoring of regulatory developments
Partnerships with regulated financial institutions
Stability Mechanisms
1 USDC = $1 USD
The stablecoins used on Farcash maintain their stable value through a 1:1 backing with U.S. dollars and short-dated U.S. Treasury bonds. This means that for every stablecoin token in circulation, there is $1 USD held in reserve.
Updates to This Page
We will update this page regularly to include the latest attestation and audit reports as they become available. The "Last Updated" date at the top of this page indicates when this information was last revised.
Contact Us
If you have questions about our transparency practices or the information on this page, please contact us at:
DNFT Inc