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Crypto Accounting and Tax Platform TRES Collects $11M for Blockchain Expansion.

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Key Points:

  • TRES, a cryptocurrency accounting and taxation reporting platform, has raised $11 million to expand its service to all corners of the blockchain industry.
  • The Tel Aviv-based company currently supports over 100 layer-1 and layer-2 networks including Bitcoin, Ethereum, Solana, and Avalanche.
  • TRES aims to add support for “new blockchains every week” as it seeks to provide firms with a comprehensive way to manage and reconcile their digital asset activity.
  • The Series A round brings TRES’ total funds raised to $18.6 million.

TRES, a cryptocurrency accounting and taxation reporting platform, has raised $11 million in a Series A funding round to expand its service to new blockchains. The Tel Aviv-based company currently supports over 100 layer-1 and layer-2 networks, including Bitcoin, Ethereum, Solana, and Avalanche. The funding will enable TRES to add support for new blockchains every week, expanding its services to all corners of the blockchain industry. TRES currently services clients with combined assets worth $19 billion and helps them manage, monitor, and reconcile their digital asset activity across multiple blockchains.

As institutional adoption of cryptocurrencies increases, there is a growing need for accounting and taxation reporting tools for companies operating in the crypto industry. TRES aims to provide a comprehensive solution for firms to manage their Web3 financial activity, ensuring compliance with accounting, audit, and reporting functions. The recent funding round brings TRES’ total funds raised to $18.6 million, with backing from investors including Faction, New Form, Cyber Fund, and Ambush Capital.

The expansion of TRES’ platform to new blockchains highlights the growing demand for crypto accounting and taxation services. As the crypto industry continues to mature, companies will need reliable tools to manage and report their cryptoassets. TRES’ platform offers a solution for managing and reconciling digital asset activity across multiple blockchains, providing companies with a clear and accurate picture of their financial activity in the crypto space. With its new funding, TRES is well-positioned to meet the growing demand for crypto accounting and taxation solutions.

Overall, TRES’ successful funding round reflects the increasing importance of crypto accounting and taxation services in the evolving crypto industry. As more companies and institutional investors enter the market, reliable tools for managing and reporting digital assets will become essential. TRES’ expansion to new blockchains positions the company as a leader in the crypto accounting and taxation space, offering comprehensive solutions to help companies navigate the complex financial landscape of the crypto world.

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