The Accountant Quits Podcast #84: Building an Enterprise Crypto Accounting Software with Cryptio
Crypto sub-ledgers have evolved from their early days when they would only be required to categorize onchain transactions and calculate the realized gain/loss under the appropriate cost basis method.
To satisfy their existing customers and bring new players into the industry, sub-ledgers have to adapt to new requirements from local GAAP & IFRS, and regional regulatory requirements like MiCA in Europe or VARA in the UAE.
Finding a sub-ledger that only provides crypto bookkeeping features is no longer sufficient. You need one that addresses regulatory & audit readiness.
For over six years, Cryptio has powered the crypto back office of more than 400 organizations, including industry heavyweights like Circle, Uniswap, Consensys, Gemini, Paxos, 1inch, Transak, and even the government of El Salvador.
On Episode 84, I spoke with Antoine Scalia, the CEO & Founder of Cryptio, to share how they’re building their platform’s 3rd generation to meet regulatory, audit & accounting requirements.
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Antoine Scalia: https://www.linkedin.com/in/antoine-scalia/
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Topics Covered:
(0:00) Coming Up
(0:55) Episode intro
(3:08) Series A extension raise & what has changed since 2021
(6:16) Macroeconomic shifts happening
(8:41) Company culture & branding
(12:49) Learnings from hiring
(15:57) Does 100% remote work?
(17:29) Lack of transparent pricing with subledgers
(22:47) How to choose the right Cryptio product
( 24:46) Thanks to our sponsor Octav
(26:27) What is Cryptio Bedrock
(30:41) Fair value module & roll forward reports
(34:13) Choosing multiple pricing sources for principal market
(36:35) How does Cryptio support a new blockchain
(38:39) SOC reports for subledgers
(45:22) Use cases for SOC reports
(49:15) Audit readiness module
(52:41) Thanks to our sponsor Request Finance
(54:21) Should subledgers offer payment & main ledger features?
(59:47) Multi inventory feature for custodians & exchanges
(01:04:51) Gaps in crypto accounting education
(01:08:47) Learning habits
(01:11:13) Are you surprised by your success?
(01:13:44) Career opportunities at Cryptio
(01:14:44) Reach out to Antoine