--- title: Cryptio raises $25m to improve financial integrity in the crypto economy description: Cryptio raises $25m to improve financial integrity in the crypto economy, with backers such as Alven, 1kx, Ledger Cathay Capital, Tim draper. image: https://blog.cryptio.co/hubfs/Blog%20Header_Fundraising%20Announcement.jpg --- [![Cryptio logo](https://blog.cryptio.co/hubfs/raw_assets/public/Cryptio_October2021/images/logo-black.svg "Cryptio logo")](https://cryptio.co/) - Solutions ![accounting-firms-green-bordered.b2040145-3](https://blog.cryptio.co/hubfs/accounting-firms-green-bordered.b2040145-3.svg) ##### [Accounting and Tax](https://cryptio.co/solutions/accounting-tax) [Automate GAAP & IFRS compliant reporting](https://cryptio.co/solutions/accounting-tax) ![internal-controls-green-bordered.eaefa46d-1](https://blog.cryptio.co/hubfs/internal-controls-green-bordered.eaefa46d-1.svg) ##### [Internal controls](https://cryptio.co/solutions/internal-controls) [Ensure completeness and accuracy of crypto data to an auditable standard](https://cryptio.co/solutions/internal-controls) ![Nav bar icons_Blockchain Foundations](https://blog.cryptio.co/hubfs/Nav%20bar%20icons_Blockchain%20Foundations.svg) ##### [Reconciliation](https://cryptio.co/solutions/reconciliation) [Reconcile crypto balances and transactions with internal systems](https://cryptio.co/solutions/reconciliation) [![build-vs-buy-guide.64b11d10-1](https://blog.cryptio.co/hubfs/build-vs-buy-guide.64b11d10-1.svg)](https://landing.cryptio.co/build_vs_buy) ##### [Build your back-office](https://landing.cryptio.co/build_vs_buy) Learn why leading enterprises choose to buy rather than build their own back-office solutions [Download guide](https://landing.cryptio.co/build_vs_buy) - 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The extension was led by our existing investor [Alven](https://alven.co/), with participation from new backers including [1kx,](https://1kx.network/)[Ledger Cathay Capital](https://www.ledger.com/cathay-ledger-fund), [Bitgo Ventures](https://www.bitgo.uk/ventures/) and Charlie Songhurst. Existing supporters like [Point Nine](https://www.pointnine.com/), [Blue Yard](https://blueyard.com/) and Tim Draper also joined the round. **A platform for financial integrity beyond accounting automation** The investment follows the launch of our [Bedrock](https://blog.cryptio.co/cryptio-bedrock-keynote-highlights) data platform, which we announced at the [Crypto Finance Forum](https://cryptofinanceforum.nyc/resources) in NYC, alongside our engagement with US-based stablecoin issuer, [Circle](https://www.circle.com/). Having recently also onboarded global exchanges like [Gemini](https://www.gemini.com/uk) and [Uniswap Labs](https://app.uniswap.org/swap), we will use this funding to further develop our suite of products for regulated crypto enterprises- stand by for some exciting new product releases. > “We believe the next wave of users will be onboarded through regulated crypto products And to bring these products to market – banks, exchanges, asset managers, and token issuers need financial controls in line with the standards and expectations of the traditional financial services industry. > > Cryptio is building this foundational data normalisation and reconciliation infrastructure for crypto and this additional funding will further propel us in achieving this.”  > > - Cryptio CEO and co-founder, Antoine Scalia Our global alliance with [KPMG](https://kpmg.com/xx/en.html) uniquely positions us to provide not just the technology but also the expertise and knowledge required to meet financial reporting standards with confidence. > “For regulated financial products such as stablecoins, crypto-backed loans, and crypto savings products to exist in traditional finance environments, reliable back-office operations and reporting infrastructure are not optional—they're foundational. > > Cryptio provides the critical infrastructure needed to ensure these products can operate compliantly, transparently, and at scale.” > > - 1kx Founding Partner, Christopher Heymann   ### **Financial data integrity layer ** Our latest iteration [Bedrock](https://blog.cryptio.co/cryptio-bedrock-keynote-highlights) continues to evolve to be able to support increasingly sophisticated enterprise requirements, offering a: - **Data layer:** On-chain transaction data indexed directly from self run nodes for 60+ chains with strong accuracy controls. Combined with off-chain data from internal databases, ledger systems and banks to provide unmatched end to end data coverage and accuracy. - **Reconci**liation: Tooling to identify discrepancies between internal databases and on-chain and LP sources of truth. This can be done at scale across multiple different data formats (1+ billion transactions, 100m+ wallets). - **Accounting, Reporting & Compliance:** Segregation of client and corporate funds for reporting purposes. Solving the reporting challenge of co-mingled funds in omnibus wallet structures. Alongside a wide range ERP integrations and powerful audit + report generation capabilities, ensuring readiness for compliance with evolving global regulations.  **Regulatory tailwinds for crypto products** All this comes at a critical moment in the industry with the SEC’s repeal of SAB 121.  We are entering an exciting new age of opportunity for the industry and broader adoption of digital assets in the US financial system. More than ever, this validates the importance of our mission, and we are proud to be at the forefront of this evolution, supporting our partners and building the accounting and reporting infrastructure the financial industry needs to embrace crypto with confidence. ### **Global reporting compliance for exchanges, banks, and stablecoin issuers** “The Cryptio team has established a strong track record of delivering complex reporting products. Their platform is being used by Circle, Uniswap Labs, and Gemini demonstrating the quality of Cryptio's product and the team's execution capabilities.” - Alven, Partner- Bartosz Jakubowski Now, more importantly than ever with the abolition of SAB 121, he adds, “With regulatory frameworks like MiCA in the EU, upcoming regulations in the US, and VARA in Dubai shaping the industry, Cryptio is uniquely positioned to become the backbone of financial integrity in the crypto economy." We are excited about the future, and believe we have the team, positioning and expertise to execute on our mission of delivering financial integrity to the growing digital asset ecosystem through 2025 and beyond.   #### Table of contents - [A platform for financial integrity beyond accounting automation](https://blog.cryptio.co/cryptio-raises-25m-to-improve-financial-integrity-in-the-crypto-economy#anchor-1) - [Financial data integrity layer ](https://blog.cryptio.co/cryptio-raises-25m-to-improve-financial-integrity-in-the-crypto-economy#anchor-2) - [Regulatory tailwinds for crypto products](https://blog.cryptio.co/cryptio-raises-25m-to-improve-financial-integrity-in-the-crypto-economy#anchor-3) - [Global reporting compliance for exchanges, banks, and stablecoin issuers](https://blog.cryptio.co/cryptio-raises-25m-to-improve-financial-integrity-in-the-crypto-economy#anchor-4) ### Start using Cryptio for free [![Book a demo](https://no-cache.hubspot.com/cta/default/20275766/7f093aaf-1bd4-4545-97c6-c5ac040f256c.png)](https://cta-redirect.hubspot.com/cta/redirect/20275766/7f093aaf-1bd4-4545-97c6-c5ac040f256c) [Back to blog](https://blog.cryptio.co) ### Discover more from Cryptio - [Crypto Finance Forum](https://blog.cryptio.co/tag/crypto-finance-forum) ### [Introduction to Crypto Finance Forum (CFF) with Antoine Scalia, Founder & CEO, Cryptio](https://blog.cryptio.co/introduction-to-crypto-finance-forum-cff) 2 minute read - [Product News](https://blog.cryptio.co/tag/product-news) ### [Coinbase commerce integration goes live on Cryptio](https://blog.cryptio.co/coinbase-commerce-integration-goes-live-on-cryptio) 2 minute read - [Insider](https://blog.cryptio.co/tag/insider) ### [Cryptio in conversation with Forvis Mazars: SAB121 reporting for crypto enterprises](https://blog.cryptio.co/cryptio-forvis-mazars-sab121) 8 minute read ## Book a meeting with *our experts* On the call we can set you up with a sandbox account so you can try Cryptio for yourself. ![Letter icon](https://blog.cryptio.co/hubfs/raw_assets/public/Cryptio_October2021/images/letter.svg) - Enterprise-grade security - Online support - Instant access ![Letter icon](https://blog.cryptio.co/hubfs/raw_assets/public/Cryptio_October2021/images/loop.png) ![Letter icon](https://blog.cryptio.co/hubfs/raw_assets/public/Cryptio_October2021/images/ethereum_bitcoin_coin.png) ![Cryptio logo](https://blog.cryptio.co/hubfs/raw_assets/public/Cryptio_October2021/images/logo-white.svg "Cryptio logo") [![LinkedIn](https://blog.cryptio.co/hubfs/LinkedIn.svg)](https://www.linkedin.com/company/cryptio) [![Twitter](https://blog.cryptio.co/hubfs/Twitter.svg)](https://twitter.com/cryptio_co) ![soc-logo](https://blog.cryptio.co/hs-fs/hubfs/Imported%20images/soc-logo.png?width=38&name=soc-logo.png "soc-logo") ### Product - [Use cases](https://cryptio.co) - [Solutions](https://cryptio.co) - [Pricing](https://cryptio.co/pricing) - [Integrations](https://cryptio.co/integrations) ### Support - [Contact us](https://cryptio.co/contact) - [Help center](https://support.cryptio.co/hc/en-gb) ### Company - [Partners](https://cryptio.co/partners) - [Blog](https://blog.cryptio.co/) ### Legal - [Terms & Conditions](https://cryptio.co/terms) - [Privacy policy](https://cryptio.co/privacy) ### Don’t miss an update Sign up for our newsletter for the latest Cryptio news & insights All Rights Reserved - Inquiries: [security@cryptio.co](mailto:security@cryptio.co)