Transparency

We have completed an independent security audit of both of our real-world gold (Au) bullion asset backed stablecoins EIG Bank Coin (EIGBC) and USD Gold (USDAU). Additionally, a licensed CPA conducted an audit applying the American Institute of Certified Public Accountants (AICPA) criteria on stablecoin reporting. The audit specially focused on the proof of reserves for both our gold-backed stablecoins.

Independent CyberSecurity Blockchain Audits

EIG Global Trust hired the world’s leading blockchain security & smart contract auditing firm, Hashlock Pty Ltd to conduct a full independent review of our EIBGC and USDAU blockchains and stablecoins. In summary, Hashlock audit reports state both blockchains used and their security are secure and no significant issues were found.

Regulatory Compliance

Although EIG Global Trust stablecoins do not fall into either category, we worked continuously with the world’s regulatory bodies to ensure their blockchains, stablecoins, internal processes, and accounting comply.

The United States recently passed The GENIUS Act of 2025 (Guiding and Establishing National Innovation in U.S. Stablecoins). It’s 3 main provisions: 1) Large issuers with over $10 billion in market capitalization would be regulated by the Federal Reserve and the Office of the Comptroller of the Currency, the smaller issuers would be regulated on a State level.  2) All issuers must back their stablecoins based on 1-to-1 (100%) reserves with U.S. currency, demand deposits, or short-term (90 day or less) Treasury bills, ensuring that each digital dollar is redeemable on demand. 3) Prohibit algorithmic stablecoins.

On 5 March 2025, the AICPA issued 2025 Criteria for Stablecoin Reporting: Specific to Asset-Backed Fiat-Pegged Tokens.  This audit applies the AICPA criteria to EIG Global Trust stablecoins. The AICPA recommends using a specific measurement point in time for reporting purposes of stablecoins, this audit report measurement point is 9 May 2025. 

The European Union’s (EU) Markets in Crypto-Assets Regulation (MiCA), issued in December 2024 require stablecoin proof of reserve funds that are pegged to a single fiat currency (like EIG Global Trust stablecoins) to segregate at least 30% at credit institutions or invested in certain “secure, liquid low-risk assets”. Meanwhile, the balance is to be invested in assets which qualify as a defined class of “highly liquid financial instruments with minimal market risk, credit risk and concentration risk”.

Proof of Reserves Audit

This audit applies the AICPA criteria to EIG Global Trust stablecoins. The AICPA recommends using a specific measurement point in time for reporting purposes of stablecoins, this audit report measurement point is 9 May 2025. 

The primary objective of stablecoin audits is to determine “Proof of Reserves” are complete, accurate, and disclosure in the token issuer’s (EIG Global Trust) redeemable tokens outstanding, redemption assets available to redeem, and the redemption assets are equal to or greater than the redeemable tokens outstanding. In summary, the stablecoin audit:

  • Review of EIG Global Trust Stablecoins

  • Verification of the stablecoin project owners

  • How the Stablecoins are Transacted and Exchanged

  • Review of the Token Issuer Terms

  • Proper Classification and Accounting of the Redeemable Tokens

  • Accuracy of Proof of Reserves Calculation

Audit Report of Stablecoins by EIG Global Trust

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