Crypto Accounting Software Update. October 2023

Ensure seamless sync to Xero, reconcile fiat transactions, price accuretly fair market value, and connect to more onchain data sources.

Welcome to Cryptoworth’s latest product roundup.

In this kickstart for Q3 edition, we bring you the latest updates and key insights from the world of crypto accounting and finance.
Meanwhile, we’ve not slowed down on releasing upgrades and features to speed up your journals and save time while closing month-end faster.

If you are frustrated by how cumbersome your multiple accounting spreadsheets are becoming, you might be ready to upgrade them with our automated reconciliation software. → Read how to start here, or contact us.

Features Launched:

• Xero App Store Listing
• Reconciling Fiat Transactions
• CoinMarketCap Addition for Fair Market Values
• More Blockchains and Data Sources
• What’s in the News?

Stay Informed about Digital Assets Management, Accounting Regulation, and Web3 Events in our Blog and Social Media.

Xero App Store listing

The Cryptoworth + Xero connection offers a two-way sync, ensuring that users can effortlessly synchronize their cryptocurrency and digital asset data with Xero’s robust accounting platform. Synchronizing to Xero through Cryptoworth is exceptionally simple, thanks to its customizability, user-friendly interface, and intuitive design. The process allows users to seamlessly connect and map their financial data points.

Learn more about syncing crypto to Xero here

Reconciling fiat transactions

Cryptoworth’s virtual journal allows you to have all your book entries without needing a main ledger to record them. Now, it can support fiat currencies, enabling users to track them alongside the crypto asset transactions. This ensures that all financial activities are recorded and organized in one place for ease of accounting and reconciliation.

Learn more on reconciling crypto + fiat

CoinMarketCap Addition to Fair Market Values Provider

We have added CoinMarketCap, the largest list of cryptocurrencies, as a source for obtaining Fair Market Value (FMV). Now, users have more flexibility to obtain FMV, when choosing between CryptoCompare, CoinGecko, CoinMarketCap, or a Hybrid mix.

Learn more about accurate fair market pricing

Expanding the Largest Blockchain Data Integration Library

Cryptoworth has the largest support for blockchains, standing at 135 chains integrated. This streamlines your digital asset management and makes tracking 100% accurate in data collection and reporting.

We are providing accountants with expanded coverage for digital asset collection and tracking. This month, we’ve added the following:

• Added support for 100+ new DeFi protocols (Synthetix, friend.tech, GMX, EigenLayer, Stargate, and more)
• Fireblocks
• MEXC Exchange
• Stargaze Blockchain
• ORE Blockchain
• Telos Blockchain
• Bequant.io & Bequant Pro API.

What’s in the News on Digital Asset in October 2023

• California Governor Gavin Newsom signed the Digital Financial Assets Law establishing a regulatory framework for “digital financial asset” entities. In effect from July 1st, 2025.
• The Colombo Port City Economic Commission (CPCEC) of Sri Lanka authorized for the first time two crypto exchanges to operate in the Port City Special Economic Zone.
• The latest webinar of Crypto Finance Hub for Web3 Accountants was full of insights. Michael Cieri, accounting manager at Polygon, shared his invaluable insights and experiences around accounting practices of cryptocurrency. Watch the full episode here.
  

Stay Informed about Digital Assets Management, Accounting Regulation, and Web3 Events in our Blog and Social Media.

Conclusion:

We extend our heartfelt thanks to our new partners inabit , Zebec Protocol , Xero , CoinMarketCap, Telos, ORE Network, BEQUANT, Fireblocks, MEXC, GMX, Stargate, Michael Cieri, and all the other companies who have contributed during this month. Your support is integral to the success of our growth.

As we continue to innovate, we’re dedicated to supporting you.
Contact us for more information or to explore the benefits of these updates.

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