Fireblocks, a prominent cryptocurrency custody firm, has teamed up with Web3 accounting startup Tres. This partnership promises to streamline audit, accounting, and tax reporting processes for digital assets, integrating these tasks directly into traditional financial systems used by businesses worldwide
Institutions managing digital assets often struggle with fragmented financial data, making effective accounting and auditing challenging. TRES addresses this issue with its innovative Financial Data Lake, designed to enhance the accuracy and efficiency of financial reports.
Integration and Implementation
Fireblocks customers will now be able to access TRES reports directly from the Fireblocks platform. This integration marks a first-of-its-kind collaboration for Fireblocks, aiming to provide seamless financial operations for its users.
Tal Zackon, CEO of TRES, expressed his enthusiasm about the partnership, saying, “We’re super excited to partner with Fireblocks. As the leader in their space, we’re now enabling their customers to take advantage of our powerful Web3 financial reporting, accounting, and audit workflows.”
Idan Ofrat, CPO of Fireblocks, also commented on the collaboration, noting, “Our customers have many reporting and accounting requirements, with activity across all of Fireblocks’ supported assets. Partnering with TRES was a no-brainer. They cover every asset for our customer base and have a super passionate and responsive team.”
This strategic alliance is poised to bridge the gap between traditional financial practices and the decentralized market, fostering broader adoption of digital assets while ensuring compliance and streamlined financial management.
Also Read: Bybit Adopts Fireblocks to Secure Institutional Crypto Trades
