The crypto economy continues to evolve at lightning speed. As the industry grows, institutional fund managers are getting increasingly interested in crypto assets.
However, there are fundamental security, operational, governance and data challenges for crypto funds. Fiduciary control and security of funds are of paramount importance. There are also challenges and complexities around the subject of bookkeeping of these crypto asset transactions. Crypto funds need to produce reports that consolidate all their crypto activity, track income and expenses, and calculate capital gains and losses.
These are cumbersome, complicated and time-consuming tasks that will demand hours of work and cause headaches every month. Thankfully, tools are now available for independent auditors & fund administrators to automatically get detailed reports and analysis of all their transactions by using the Trustology coordinated crypto custodial wallet solution in conjunction with Cryptio. This combined automated solution saves a lot of time documenting ALL the information needed, minimising compliance costs as both internal and external auditing efforts become more efficient.
To see how crypto funds can benefit from this integrated solution tackling the combined issue of custody and accounting for digital assets, read the article below: