Fireblocks and Tres Partnership for Streamlined Digital Asset Reporting

Fireblocks and Tres Partnership

Cryptocurrency custody firm Fireblocks has announced a partnership with Tres, a startup specializing in accounting, auditing, and tax reporting for digital assets. This collaboration aims to provide Fireblocks’ clients with the capability to generate audit-ready reports with just one click. The reports will be seamlessly integrated with popular accounting software such as QuickBooks, Xero, and NetSuite.

Tokenization of Traditional Assets

Tokenizing traditional assets is gaining traction among financial institutions, prompting a need for more sophisticated tools to manage digital assets effectively. As organizations increasingly hold cryptocurrencies like Bitcoin on their balance sheets, there is a growing demand for streamlined solutions to handle on-chain data.

Adam Levine, SVP of corporate development and partnerships at Fireblocks, emphasized the importance of providing user-friendly interfaces for CFOs, analysts, and risk teams who may not be familiar with crypto-native processes. He highlighted the necessity for these professionals to access and interpret on-chain data effortlessly to make informed decisions.

“As crypto adoption expands, there is a crucial need for familiar frameworks that mirror the conventional business landscape. By simplifying the generation of reports and integrating workflows with existing ERP systems, organizations can navigate the complexities of digital assets more effectively,” noted Tal Zackon, co-founder, and CEO of Tres.

• Enhancing accessibility to on-chain data is essential for facilitating discussions around asset tokenization and cryptocurrency adoption within boardrooms.
• By offering intuitive solutions tailored to the needs of non-crypto-native professionals, Fireblocks and Tres aim to bridge the gap between traditional finance and the burgeoning digital asset space.