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How R3gen Ensures Compliant FinOps for Arbitrum and TreasureDAO

This case study explores r3gen Finance's financial services overcoming crypto accounting challenges for their clients. Highlighting their strategies for managing complex crypto transactions and regulatory compliance, the study showcases their partnership with Cryptoworth, its solutions, and results.

Elevating Crypto Accounting: The R3gen Finance Journey

r3gen finance is a web3 financial firm specializing in financial controls for complex entities in the digital asset space. Their team of experts assists founders by managing their finances, allowing them to focus on their core business activities.
Whether it’s budgeting, compensation structures, or other mission-critical financial work, r3gen delivers outstanding results with high impact. Their deep knowledge of the web3 ecosystem ensures effective financial management for projects and organizations in the blockchain ecosystem.

Objectives:

To provide comprehensive financial services tailored for Web3 projects. R3gen Finance team aims to fill the gap in professional financial services in the crypto space. They offer everything from bookkeeping to financial planning.

By navigating cryptocurrency’s regulatory and operational complexities, r3gen ensures compliance and streamlined processes for its clients.

To enable founders to focus on innovation. By handling the financial intricacies, r3gen allows crypto entrepreneurs to concentrate on what they do best.

Read the full case study from our crypto accounting partners

R3gen Finance’s clients often struggled with getting a comprehensive overview of their financial performance, managing remote teams across various jurisdictions, and preparing compliant financial accounts, among other things. 

The unique complexities of crypto transactions and the regulatory environment can be daunting. One of the major hurdles is the complexity of managing digital assets across various blockchains, coupled with the need for compliance and transparency
r3gen customers: Arbitrum, Squid, AvantGarde, Coordinape, Enzyme, Swell,  MetaCartel Ventures, Treasure.
R3gen serves as the crypto native finance team, helping founders focus by taking care of their finances.

Challenges Faced:

The r3gen team encountered several hurdles in its mission to provide comprehensive financial services to Web3 projects:

  • Complex management of digital assets: Tracking and managing assets across various blockchains demands specialized knowledge and tools. The intricacies of recording on-chain assets, including transactions and holdings, are complex by nature.
  • Compliance with evolving regulatory standards: Staying compliant within a constantly shifting regulatory landscape is daunting.
  • Streamlining financial operations: Simplifying the financial operations of crypto projects. They must ensure efficiency and transparency, which can be complex without the right expertise.
  • Organization Setup: The process of setting up and incorporating organizations came with its own set of challenges. From legal to financial nuances.
  • Navigating DeFi Nuances: The DeFi space is particularly challenging with its unique nuances, from liquidity pools to staking mechanisms.

Cryptoworth is solving problems for the most complex crypto accounting, be it DeFi transactions or cross chain swaps. Cryptoworth consistently surprises me with its accuracy and ability to pull nuanced data from early projects.

As a super user of crypto accounting subledgers over the years Cryptoworth has been one of the best at handling big and complex datasets. Cryptoworth is by far the most bespoke software out there and there really is nothing that it cannot do,

Elliott Watts, CFO of R3gen Finance.
Read the full review at g2.com

Identifying the Needed Solutions:

Given the range of challenges r3gen Finance faced, the ideal solution would need to encompass a broad spectrum of capabilities:

  • Comprehensive Financial Tracking: A solution that provides real-time insights into financial performance and the health of the business.
  • Jurisdiction Adaptability: Tools that facilitate seamless management of remote teams across jurisdictions, simplifying operational complexities.considering legal and financial aspects.
  • Regulatory Compliance: Features that ensure financial accounts are prepared in compliance with the latest regulatory standards, adapting to changes swiftly.
  • Efficient Budgeting and Planning: Automation and intuitive interfaces that allow for easier budgeting and financial planning
  • Sophisticated Onchain Asset Management: Advanced functionalities for managing onchain assets, including transaction tracking, portfolio management, and asset valuation.
  • DeFi Tools: Specific features designed to handle the unique aspects of decentralized finance. Ranging from liquidity pools to staking and yield farming strategies.

Solution Selection: Cryptoworth

After establishing the necessary capabilities, r3gen Finance’s choice of Cryptoworth as its solution provider becomes clear. This selection aligns its features with the identified needs:

  • Comprehensive and Accurate Financial Reporting: Cryptoworth delivers real-time financial tracking and reporting, addressing the need for comprehensive financial oversight.
  • Jurisdiction-agnostic Operations: The multi-entity feature allows portfolios to set their specific fiat currency and time zone to fetch fair market value in real-time effortlessly.
  • Regulatory Compliance Features: Cryptoworth stays abreast of regulatory changes, incorporating compliance checks directly into its software, and ensuring clients’ financial accounts remain compliant.
  • Automated Bookkeeping: With automated rules, Cryptoworth allows r3gen Finance to avoid repetitive transaction recognition and streamline bookkeeping.
  • Advanced Onchain Granularity: Cryptoworth excels in managing complex on-chain assets, offering detailed tracking and valuation tools that cater to the nuanced needs of crypto assets.
  • DeFi Strategy and Treasury Management: Cryptoworth’s platform is uniquely designed to recognize the complexities of DeFi. It offers tailored solutions for managing liquid staking tokens, staking rewards, and more. Its capability adapts to the specific needs of projects like Swell liquidity staking pools.

Cryptoworth’s alignment with r3gen Finance’s requirements showcases the importance of selecting a solution that is equipped to handle the evolving landscape of the crypto-financial sector.

A+ team that consistently ships updates to remain at the forefront of Web3 accounting

Crypto Accounting Intervew to Elliott Watts, CFO of r3gen finance.

The Testimonial:

Elliott Watts, in his testimonial, lauds Cryptoworth for revolutionizing r3gen’s accounting processes, emphasizing its bespoke solutions that significantly enhance operational efficiency and data accuracy.

For more in-depth insights, you can read the full interview with Elliott here.

The Results:

Enhanced accuracy and customization in financial reporting: The implementation of Cryptoworth led to highly accurate financial data, customizable to the needs of each client.

The automation and integration capabilities of Cryptoworth reduced manual efforts and streamlined processes.

A clearer, more comprehensive financial overview for clients: Projects like Swell benefitted from an in-depth understanding of their financial status, enabling better decision-making and strategic planning.

Cryptoworth has the best customer support, 24/7 there is someone within the Cryptoworth team that will be able to answer your queries or jump on a call to discuss.

Elliott Watts, CFO of R3gen Finance.
Read the full review at g2.com

Key Takeaways:

The top 4 takeaways from this case study are:

  • Tailored financial solutions are crucial: The complex landscape of crypto finance necessitates solutions specifically designed to address its unique challenges.
  • Precision and reliability in data capture are essential: Accurate financial data is the cornerstone of effective financial management, especially in an industry characterized by rapid changes.
  • The right software can transform financial management: Tools like Cryptoworth not only solve existing problems but also redefine what’s possible in crypto accounting.
  • R3gen Finance leads in financial professionalism: Through its partnership with Cryptoworth, r3gen Finance establishes itself as a beacon of financial professionalism and innovation in the crypto space.


We encourage crypto accountants and controllers to explore the power of Cryptoworth by testing the solution themselves or scheduling a consultation with our crypto data accounting experts. 

This case study underscores the importance of automated crypto accounting for accurate reporting and financial clarity. 

R3gen Finance’s success story exemplifies how innovative solutions are reshaping the financial landscape for crypto accounting firms.

Talk to a Crypto Accounting Expert

Cryptoworth provides partners a growth opportunity for accounting firms, CPAs, and technology consultants. Let’s get in touch.

    Author

    • Ariel Eiberman

      Ariel Eiberman is the marketing lead at Cryptoworth, a leading crypto accounting software that helps web3 accountants speed up month-end closing. He has more than 6 years of experience in product marketing for software companies and a background of organizing olympic games and polyglot meetups in multiple cities.

    Ariel Eiberman

    Ariel Eiberman is the marketing lead at Cryptoworth, a leading crypto accounting software that helps web3 accountants speed up month-end closing. He has more than 6 years of experience in product marketing for software companies and a background of organizing olympic games and polyglot meetups in multiple cities.

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