Verady, the leading blockchain asset accounting, reporting, and verification company, is formally announcing its Ledgible platform feature for stablecoin monitoring. Cohen & Company became the first client for this feature beginning in 2018 and has utilized the Ledgible platform to assist with reporting on multiple stablecoins. This reporting helps to ensure accurate and reconcilable asset backing.
Very is a financial technology company in the Advanced Technology Development Center’s ATDC Accelerate portfolio.
Understanding how blockchain assets align with accounting, reporting, and verification is crucial to the adoption of cryptocurrency. “The foundation for Verady’s work was developed years ago as an audit solution to verify Bitcoin assets. The Ledgible platform’s accounting capabilities across blockchains, tokens, and exchanges is a natural evolution to match the ecosystem, and stablecoin monitoring is an important part of this process,” said Nathan Eppinger, Verady’s chief technology officer. As the Ledgible platform continues to expand, it will add further traditional accounting platform integrations, more complex financial reporting, and a wider variety of use cases.
“The introduction of stablecoins has been very exciting to see in the industry, but working with crypto-assets is complex. Cohen & Company assists companies with the challenges of financial accountability associated with the use of stablecoins and other crypto-assets. Verady’s Ledgible platform is a great tool for us in this exciting field,” said Corey McLaughlin, co-president of Cohen & Company’s Investment Industry Services Division.
About Verady: Verady provides cryptocurrency accounting, reporting and verification capabilities through the Ledgible platform. Verady believes traditional accounting systems, firms, and standards are currently lacking functionality around cryptocurrencies. The Ledgible platform is the bridge between cryptocurrencies and traditional financial accounting which is needed to further their acceptance and growth. For more information about Verady please visit verady.com or follow @veradyinfo.
About Cohen & Company: Cohen & Company’s Investment Industry Services Division is focused on comprehensive audit, attest, tax, and consulting services exclusively for the investment industry. Our national client base includes mutual funds, hedge funds, private equity, exchange traded funds, commodity pools, investment advisers, fund service providers, high net worth individuals, trusts, and foundations. We have a customized, focused audit approach and deep tax expertise. But what makes us different is our culture built on energy, discipline, results, and—most importantly— personal commitment to our clients. The firm has more than 650 associates in Illinois, Ohio, Maryland, Michigan, New York, Pennsylvania, and Wisconsin; has an international presence in the Cayman Islands and Ireland; and is ranked as one of the top accounting firms in the country. Member PCAOB. Learn more at cohencpa.com.