Company Research Report: Cryptio

Company Overview

• Name: Cryptio

• Mission: No explicit mission statement was found in the data provided.

• Founded: No specific information about the founding year or founders was available.

• Key People:

• Tim Draper, Founding Partner at Draper Associates, is mentioned as a notable figure recommending Cryptio.

• Wiehann Olivier, Partner and Digital Asset Lead, is quoted regarding Cryptio’s integration into accounting practices.

• Headquarters:

• Paris Office: 101 rue de Sèvres, 75006 Paris

• London Office: LABS House - 15, 19 Bloomsbury Way, London WC1A 2TH

• Number of Employees: No information is available.

• Revenue: No information is available.

• Known For: Cryptio is known for providing enterprise-grade accounting, audit, and tax software solutions for digital assets and cryptocurrency management.

Products

General Products

Cryptio provides solutions that automate GAAP and IFRS-compliant reporting, ensure completeness and accuracy of crypto data, and reconcile crypto balances and transactions with internal systems.

Specific Products

1. Accounting and Tax Solutions

• Automates financial reporting and ensures compliance with GAAP & IFRS standards.

• Key Features:

• Automated transaction categorization.

• Cost-basis computation and trial balances.

• Integration with current accounting tools like Xero, Quickbooks & Netsuite.

2. Internal Controls

• Ensures completeness and accuracy of crypto data to an auditable standard.

• Key Features:

• SOC 1 and SOC 2 Type 1 & 2 certified.

• Data integrity checks and valuation controls.

• Comprehensive audit trails.

3. Blockchain Data Reconciliation

• Reconciles crypto balances and transactions with internal systems.

• Key Features:

• Real-time transaction syncing across blockchains, exchanges, and wallets.

• Automated reconciliation of DeFi activity.

4. DeFi & Crypto Enterprise Solutions

• Transforms on-chain DeFi activity into auditable financial statements.

• Key Features:

• Historical balances and transaction history reporting.

• Intangible impairment tracking and IRS & SEC-compliant report generation.

5. Audit & Risk Management

• Provides a framework for ensuring audit readiness.

• Key Features:

• Access to audit trails and role-based permissions.

• Use of Big4 approved internal control frameworks for audit-friendly reports.

Recent Developments

• Recent Product Launches and Features

• Introduction of Cryptio Ionic, a back-office platform for digital assets.

• Launch of integration with Xero to enhance accounting workflows.

• Development of new Data Integrity module to improve financial audit readiness.

• Partnerships

• Integration partnerships with leading infrastructure providers for blockchain accounting.

• Encouraging accounting firms to join their partner program aimed at enhancing crypto accounting proficiency.

• Enhancements and Updates

• Continuous updates on VAT requirements for blockchain firms.

• Enhanced Accounting Workflows and the introduction of Cryptio Colossal, a market-leading data layer for accounting and reporting.

• Security and Compliance

• Maintenance of enterprise-grade security standards including encryption protocols and SOC compliance.

Additional Information

• Integrations:

• Over 150 on & off-chain integrations, facilitating seamless reconciliation processes with APIs.

• Market Reach:

• Over 400 customers, including leading crypto institutions and enterprises.

• $135 billion processed in reconciliations for auditable standards, signifying a trusted solution for high integrity enterprises.

• Client Testimonials:

• Endorsed by Mitch Petracca, Head of Finance at Transak for comprehensively addressing on-ramp company challenges related to accounting and internal controls.

Overall, Cryptio positions itself as a pivotal player in the digital asset accounting ecosystem, serving a broad spectrum of financial institutions and enterprises with its array of sophisticated tools and platforms optimized for blockchain-related financial management.