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How companies account for their crypto assets in their accounting system?

For CFOs and Accounting Firms Very often, finance teams and accounting firms ask us how they should push data to their accounting systems. The answer is that it depends! It depends on your jurisdiction, on your activity and on the related accounting treatments. Sometimes, several options are possible.  We have decided to share the knowledge gained …

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Milestone: Cryptio Launches Quickbooks Integration

Quickbooks is the most popular accounting management software for small to medium businesses world-wide. 7M+ businesses can now seamlessy account for their (future) digital asset activity. COVID-19 Has Accelerated Crypto Adoption Since March 2020, the volume of On-chain Stablecoins has multiplied by 6. The combined value of Stable-coins has peaked at $16bn (sum of all …

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Milestone: Cryptio launches Xero Integration

Xero’s 2million+ users can now leverage automated bookkeeping for crypto assets. Crypto adoption is increasing! The growth of digital assets has reached a level of exponentiality. From Decentralized Finance to the evolution of Central Bank-issued currencies.  Therefore, the advancements occurring in the industry has resulted in extraordinarily complex and tedious business models driven by unaccountable …

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Case Study: How Aave saved time spent on accounting

The Problem Aave is one of the most popular and trusted DeFi lending protocol in the market. After an exponential growth in early 2020, they were handling thousands of cryptocurrency payments per day. The team soon realised that monitoring millions of dollars flowing through your wallets and accounts is a nightmare. It required hours of manually tagging transactions, adding descriptions, …

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Connect your crypto data to your accounting system

Join the program Today, companies holding crypto assets have no way to sync their digital asset data to their cloud-based accounting software (Quickbooks, Xero..). That’s why accounting for crypto currencies and tokens is so challenging. We are launching a beta program to help businesses and accounting firms get that problem solved. In the traditional world, …

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Alliance for Prosperity

Cryptio part of ‘Alliance for Prosperity’ to make open finance more accessible

The Alliance for Prosperity is a network of mission-driven firms to leverage the benefits of blockchain technology to foster social impact and financial inclusion. The Alliance aims to create prosperity for the world by addressing the needs faced by underserved populations that may not have access to traditional finance.  The aim is to enable more …

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Cryptio joins Accounting Blockchain Coalition

Cryptio joins the Accounting Blockchain Coalition (ABC)

We are proud to announce that we have joined The Accounting Blockchain Coalition (ABC).   The ABC is a non-profit, industry association that serves as a forum to develop and share information on accounting matters relevant to digital assets and distributed ledger technology, including blockchain. As part of this prestigious ecosystem, Cryptio aims to leverage …

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Crypto taxes in UK

Crypto taxes for businesses in the UK – A simplified guide

This article (Updated Nov 2019) simplifies the tax guidance on cryptoasset activities undertaken by businesses in the UK. We discuss pressing issues such as how to calculate your gains/losses, what accounting inventory method is recommended, how to account for payrolls in cryptos, and specific use cases such as DeFi lending products, cryptocurrency exchanges and mining companies. We have referred the new …

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Simplify your Crypto bookkeeping & accounting

The ultimate accounting guide for crypto businesses

Jump directly to the relevant section for you: Introduction The accounting basics  (for beginners)  Accounting for cryptos (for crypto business owners) Best practices for crypto-related businesses (for crypto business managers and CPAs) Of all the challenges that crypto businesses have to tackle, accounting and bookkeeping probably aren’t the most interesting. This results in most businesses …

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