Proof of Reserves
On-chain reconciliation by AuditKey, assurance by an independent auditor. Monthly or on demand, public or private, for stablecoin issuers, tokenization platforms, exchanges and privacy protocols.
Before AuditKey, our team ran proof of reserves for Brazilian stablecoins and tokenization platforms as Fact Finance. That practice, its clients and its methodology are now part of AuditKey, alongside our KYT engine.
A reserve report is the only answer to "is my token backed?" that does not ask for faith.
Exchanges, banks and distributors want an independent report before onboarding a token.
Reserve disclosure is becoming a legal obligation for stablecoin issuers.
Stablecoins
We read total supply directly from every chain your token lives on, reconcile it with bank and custodian statements, and break down reserve composition by asset type. Your holders get a public attestation page. Your auditor signs the report.
Tokenization platforms
For tokenized receivables, real estate, commodities and other real-world assets, we reconcile the on-chain token registry with custody records, registrar data and asset documentation, so investors know each token is tied to an asset that exists.
Exchanges & custodians
Each customer can check their own balance is counted, without seeing anyone else's. We also prove control of the wallets that hold reserves. Reports can be public, or private for partners and regulators only.
Privacy protocols
Early access
Shielded pools hide individual balances by design. We reconcile total commitments with the on-chain pool balance and use zero-knowledge proofs of liabilities, so the protocol can prove solvency while every user stays private.
Every report is signed by an independent auditor under Brazilian (NBC) and international (ISAE) assurance standards.
| NBC TO 3000 | NBC TSC 4400 | |
|---|---|---|
| Engagement | Assurance engagement other than an audit or review of historical financial information | Agreed-upon procedures |
| Auditor's output | A conclusion: reasonable assurance (positive opinion) or limited assurance | Factual findings of the procedures agreed with the client, with no assurance conclusion |
| International counterpart | ISAE 3000 | ISRS 4400 |
| Best for | Public attestations to holders, partners and regulators | Monthly reconciliations between assurance reports, and internal or partner checks |
Every Independent Auditor's Report is signed by an independent auditor, not by AuditKey. Reports are point-in-time, as of the snapshot date. We produce and reconcile the data. The auditor tests it and concludes.
Signed by Rodrigo Molin, independent auditor registered with CNAI (CFC).
1
AuditKey + client
Define the asset, the wallets and the assurance standard.
2
AuditKey
Fix the snapshot date and collect on-chain balances and the matching statements.
3
AuditKey
Match liabilities to reserves and document every difference.
4
Independent auditor
The independent auditor tests the evidence and signs the report.
5
AuditKey + client
The signed report locks the data so it can't be changed later.
From January 2027, US payment stablecoin issuers must publish a monthly reserve report, certified by their CEO and CFO and examined by a PCAOB-registered accounting firm. AuditKey prepares the data package that report is built on: on-chain supply across every chain, reserve reconciliation and composition, ready for your examiner's review.
Privacy protocols can prove the shielded pool is solvent without exposing a user. That proof of liabilities is part of the engagement.
Prove the reserves exist, and that mint and redemption funds come from clean sources, with the same provider.
Total supply is read on-chain across every chain the token lives on, not only the balance the platform reports.
Engagements run under NBC TO 3000 and NBC TSC 4400, with the work delivered in Portuguese and Spanish as well as English.
Cryptographic architecture and verifiability through Merkle trees, for crypto exchanges and digital asset custodians. October 2026 edition.
How an AuditKey proof of reserves engagement works.
Proof of reserves is an independent check that the assets backing a token or a platform cover what it owes to holders. AuditKey reconciles on-chain supply and balances with reserve statements, and an independent auditor tests the result and signs the report.
No. A financial statement audit covers a company's full financials. Proof of reserves covers one subject: whether reserves match liabilities at a point in time. AuditKey reports are assurance or agreed-upon procedures engagements, not audits.
Choose NBC TO 3000 when holders, partners or regulators need the auditor's conclusion, with reasonable or limited assurance. Choose NBC TSC 4400 when a defined set of checks is enough, such as monthly reconciliations between assurance reports. AuditKey prepares the reconciliation for either engagement.
The GENIUS Act requires monthly reserve reports examined by a PCAOB-registered accounting firm. AuditKey prepares the reserve data package for that examination. The examination itself must be performed by a PCAOB-registered firm.
Yes. AuditKey proof of reserves reports can be published on a public attestation page, shared privately with partners and regulators, or both.
AuditKey verifies reserves monthly, quarterly or on demand. Continuous on-chain monitoring between reports is available for issuers that need it.
AuditKey reconciles total commitments in the shielded pool with its on-chain balance and uses zero-knowledge proofs of liabilities, so solvency is proven without revealing any user's balance.
AuditKey builds a Merkle tree of customer liabilities. Each customer receives an inclusion proof showing their balance is counted, without seeing anyone else's.
