Cohen & Company has announced the launch of a new website, STABLEINSIGHT powered by Cohen & Company, (https://stableinsight.cohencpa.com) which is dedicated to providing transparent reporting to the stablecoin market. The innovative website allows visitors to select from certain stablecoins, view the current and historic circulating coins and the collateral balance backing the coins. The platform can be utilized by the general public, as STABLEINSIGHT powered by Cohen & Company independently pulls coin and collateral data so that it can offer transparent information in a way that adheres to standard professional and ethical responsibilities.
The reporting-based website uses data provided by third-parties who have hired independent accounting firms to provide reports on their System and Organization Controls. Investors will be able to monitor and confirm the number of coins listed are fully backed by fiat currencies or other collateral as prescribed by the coin issuer. The website will supplement the current measures taken by stablecoin issuers to provide transparency – enabling consistent, up-to-date views of the number of coins issued versus the collateral held backing the coins.
“We have worked in this specialized market for many years and have gained the knowledge and expertise to build a reporting-based website for the stablecoin marketplace,” stated Corey McLaughlin, Partner in Charge, People & Culture and Partner, Assurance. "Each issuer of the coins on this website is a client of Cohen & Company’s and we offer this dashboard as a service to them as well as the general public. We are thrilled to provide enhanced transparency beyond the monthly attestations already available in the stablecoin marketplace."
“We pride ourselves on being the leader in the alternative investment space," McLaughlin said. "Our clients and colleagues depend on our knowledge and experience to continue to be forward-thinking and providing the tools needed to navigate our market. Our team goes beyond traditional audit and tax services to offer these services and tools - with the launch of this website we are honoring that commitment.”