Aimed to Boost Efficiency in Digital Assets
In a recent collaboration, inabit, a leading financial management platform specializing in digital asset management, has partnered with Cryptoworth, a renowned provider of crypto accounting software. This strategic partnership is set to simplify digital asset control. Saving valuable time and costs for finance teams in the Web3 space.
Currently, several challenges confront Web3 finance professionals:
- Informed decisions suffer due to fragmented asset management, with assets scattered across multiple blockchains, exchanges, and wallets.
- Costly mistakes often arise from manual processes in digital asset operations, necessitating significant time and effort for rectification.
- Accountants face a steep learning curve as blockchain data and Web3 tools lack design with their needs in mind. Current ways make crypto data occasionally useless for finance teams.
- Security risks from multiple signers in digital asset transactions. Approvals need to keep keys in insecure environments and approve transactions with not much ability to control who signs what.
These issues have led to costly errors, operational inefficiencies, and overall dissatisfaction in handling the complexities of crypto finance.
Streamlining Digital Asset Management
The collaboration between inabit and Cryptoworth will allow users to efficiently and securely manage their digital assets across multiple blockchain networks, wallets, and exchanges. Finance professionals will benefit from streamlined digital asset management processes. It will result in significant time and cost savings compared to current accounting methods.
The partnership aims to provide businesses and enterprises with an integrated solution for managing digital assets. Cryptoworth, known for its expertise in providing accurate and reliable digital asset data for accounting practices, will seamlessly integrate with inabit’s financial control center, serving as a user-friendly bridge between traditional finance to crypto finance.
What to Expect from the Partnership
Users of both inabit and Cryptoworth can expect a seamless platform integration. This integration allows customers to manage accounting tasks on the inabit dashboard. It leverages Cryptoworth’s digital asset data automation for compliant financial reporting, following GAAP and IFRS standards. Furthermore, this partnership delivers comprehensive financial coverage for businesses with crypto assets. It includes Treasury, crypto-to-fiat, reporting, and accounting, all in one.
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Cryptoworth is a leading provider of crypto accounting software, dedicated to simplifying the financial management of digital assets for bookkeepers, CPAs, CAs, and CFOs. Cryptoworth synchronizes data from blockchains, exchanges, custody providers, thus offering in-depth insights, financial reports, and seamless digital asset management. Its two-way syncing capabilities empower most popular accounting systems and ERPs, simplifying crypto management across exchanges, wallets, and smart contracts. By streamlining month-ends, Cryptoworth’s comprehensive data sync, insightful reporting, and effortless management make it an essential tool for navigating the complexities of the digital financial landscape.
inabit is a cutting-edge financial management platform offering an exclusive self-custody solution that empowers users to have complete control over their digital assets across various blockchain networks and currencies. An user-friendly interface that seamlessly integrates traditional finance with advanced blockchain technology. Inabit enables individuals and businesses to securely and efficiently manage their digital assets. So crypto will be accessible to all.
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- Accounting for Simple Agreement for Future Tokens Notes under IFRSA brief overview of the IFRS treatment of SAFT.Why it’s becoming crucial for accounting in the digital assets economy.