Demand, Cryptio Streamline Crypto Accounting

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Request and Cryptio Partner to Streamline and Advance Accounting Solutions for Cryptocurrency and Blockchain Transactions.

We are excited to announce that Cryptio has successfully integrated Request, the billing platform for crypto-first businesses, to simplify the bookkeeping and accounting of blockchain-based transactions, Request said.

See more: Cryptio Request and Partner to Simplify Accounting with Cryptocurrency

The combined entity strives to provide documentation that provides the paper trail that regulators seek to consider the legitimacy of crypto-based blockchain transactions. The lack of a runway has always been a missing aspect to meet compliance requirements.

By simplifying billing, payments, and general accounting aspects for businesses that favor crypto, Request and Cryptio can help businesses that deal with fiat currencies and cryptocurrencies.

Crypto transactions are now properly documented and just as embeddable as any other transaction in an accounting system, according to Request.

Cryptio now allows businesses to automatically transfer their crypto-based activity to their preferred accounting system, making crypto-based transaction accounting more transparent than ever.

The Request and Cryptio link aims to streamline the process of using crypto for businesses. The duo strive to make using crypto for businesses as easy and compliant as any other type of payment a business decides to use.

Cryptio landed $ 1.2 million in seed funding in April, led by Draper Associates. Other participating investors included ConsenSys Ventures, Outlier Ventures, Aave founder Stani Kulechov and others.

See more: B2B e-commerce, corporate cards take the lead in B2B VC

Based in France, Cryptio specializes in helping businesses working with cryptocurrencies to manage their accounting needs. The new injection of capital will help the company invest in talent.

Companies interested in accepting crypto typically find it difficult to manage accounting transactions using legacy billing and accounts receivable systems that often require outside professionals to manage transactions.

See related coverage: FinTech Battles Accounts Receivable Against Crypto Concerns

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