Tetra Trust, Canada's Only Licensed Digital Asset Trust Company Chooses Ledgible to Enhance its Data Offerings

News provided by

Oct 03, 2024, 08:37 ET

ATLANTA, Oct. 3, 2024 /PRNewswire/ -- As the digital asset landscape continues to expand, the demand for reliable and efficient data solutions has never been more pressing. Recognizing this need, Tetra Trust, Canada's first and only qualified custodian for digital assets, has turned to Ledgible, a leading digital asset tax and accounting platform, to further enhance their digital asset reconciliation processes.

Ledgible provides a comprehensive platform that enables institutions to integrate digital assets into their existing accounting systems seamlessly. With advanced capabilities such as transaction tracking, balance reconciliation, and staking reward management, Ledgible ensures that organizations maintain accurate and compliant financial records. "This makes Ledgible the preferred choice for enterprises looking to streamline their digital asset operations," says Ledgible CEO, Kell Canty.

Tetra Trust: Securing Digital Assets

Tetra Trust, a pioneer in digital asset custody in Canada, provides secure and compliant custodial services tailored to institutional clients. With a strong focus on regulatory compliance and security, Tetra Trust has become a trusted name for institutions managing digital assets. To ensure the integrity of its custodial services, Tetra Trust continuously seeks innovative solutions to improve its internal operations.

Tetra Trust Adopts Ledgible to Enhance their Data Offerings

By working with Ledgible, Tetra Trust gains access to a powerful platform capable of addressing their complex reconciliation and data needs. This integration enables Tetra Trust to perform seamless balance reconciliation across its internal data, ensuring accurate cross-checking and confirmation of all digital asset transactions. In a space where trust and transparency are paramount, having accurate, SOC certified data on hand is essential for Tetra Trust to maintain its standing as a secure and reliable custodian.

Additionally, as the digital asset industry continues to adopt staking, Ledgible's platform offers comprehensive tools for managing staking activities, including the ability to track and account for ETH staking rewards. This feature is particularly valuable to Tetra Trust, as it allows them to provide accurate, up-to-date reporting on staking rewards to clients and regulators, reducing the complexities associated with staking data management.

In addition to its core accounting and reconciliation features, Ledgible also integrates with Ledger Enterprise. This integration allows Tetra Trust to retrieve vital data directly from their Ledger Enterprise account through Ledgible's API, enabling automated and reliable data reconciliation with their custody services. The efficiency gained through this integration minimizes manual processes, enhances data accuracy, and bolsters the overall security of Tetra Trust's operations.

Driving the Future of Crypto Accounting

By leveraging Ledgible's platform, Tetra Trust can enhance its efficiency and ability to manage and reconcile digital assets, strengthening its internal processes while ensuring that client accounts are both accurate and compliant with the highest industry standards.

This partnership reflects the growing need for trusted solutions in the digital asset space and highlights the importance of reliable accounting and reconciliation processes in building a strong digital asset ecosystem. As institutional interest in digital assets grows, solutions like Ledgible will continue to play a vital role in supporting custodians like Tetra Trust in navigating the complexities of crypto accounting and staking management.

About Ledgible

The Ledgible platform is built from the ground up to streamline digital asset tax information reporting and compliance. Ledgible ensures compliance for digital assets for some of the largest financial institutions in the world, including top 5 US banks, investment firms with $1B+ AUM, and top 10 crypto exchanges. As a SOC 1 & 2 Type 2 Certified platform, Ledgible is the trusted provider of choice for compliance and Form 1099 generation.

Contact:
Jan Jahosky
407-331-4699
[email protected]

SOURCE Ledgible