Each month, stablecoin issuers publish reports saying every token is matched by real reserves. ProofLayer checks that claim against the blockchain itself — independently, number by number — and publishes the result as a tamper-evident evidence pack that anyone can re-verify in a browser. No account. No PDF taken on faith. No trust required.
For issuers, that pack is the monthly reserve disclosure the GENIUS Act now requires — produced push-button, with proof attached.
We rebuild the coin's complete supply history from raw blockchain data — every mint, every burn, on every chain it lives on. Our independent count has matched the auditor's attested figure to within a fraction of a basis point.
The issuer's accounting firm publishes a monthly attestation of the reserves. We line those reserves up against the supply we counted — at the same instant — and flag anything that doesn't reconcile.
Every number links to its raw source file, each named by its SHA-256 fingerprint and all sealed under a single Merkle root. Your browser re-verifies the whole pack live; change one byte anywhere and it fails.
Supply independently reconstructed on all four chains it lives on — Ethereum, Solana, Arbitrum and Stellar.
Circle's attestation publishes totals only — no per-chain breakdown exists to corroborate, and the pack says so.
Both packs were built entirely from public data — neither issuer was asked for anything. That's the point: proof shouldn't require trusting the prover, or the issuer.
One coin can live on many chains at once — PYUSD spans all four of these. A supply count that misses a chain isn't a count; that's why coverage is corroborated per chain, and the report says so when a chain can't be checked.
Since 2025, federal law (Pub. L. 119-27) requires every U.S. stablecoin issuer to publish monthly reserve disclosures. A ProofLayer pack is that disclosure with proof attached: each check cites the statutory requirement it evidences — 5/5 §4(a) checks passing in the current PYUSD pack.
The packs above are what ProofLayer produces from the outside, with no access at all. Working with us takes it further:
Your GENIUS Act reserve disclosure generated from your published attestation and public chain data — every figure evidence-backed, sealed under a Merkle root, and re-verifiable by anyone you hand it to.
Grant read-only connections to your custodians and banks and the evidence deepens: reserve holdings verified at the source, reconciled to the account level — a monthly close in hours, not weeks of back-and-forth.
Supply checked against reserves every day, exceptions flagged the day they appear, and a live “independently verified” page you can hand to exchanges, partners and regulators — instead of a monthly scramble.
ProofLayer is built by a solo founder. Issue a stablecoin? Your next monthly disclosure could look like the packs above — get in touch. Examiners and accounting firms: the same pipeline works as tooling under your engagement.