Cryptoworth

Cryptoworth is an enterprise crypto accounting and subledger platform founded in Toronto, Canada in 2017 by co-founders Geeth Jay and Richard Pasquin. The company was built to address a core operational problem in institutional digital asset management: traditional accounting systems and spreadsheet workflows cannot handle the volume, complexity, and variety of on-chain financial activity that modern Web3 organizations generate. By automating the translation of blockchain transactions into GAAP- and IFRS-compliant journal entries, Cryptoworth functions as the financial system of record for enterprise crypto operations.

The Problem

Finance teams at DAOs, Web3 companies, DeFi protocols, and enterprises managing digital asset treasuries face a reconciliation challenge that scales exponentially with on-chain activity. Manual approaches—exporting CSV files from block explorers, maintaining spreadsheets across wallets and exchanges, manually classifying staking rewards and DeFi interactions—are slow, error-prone, and difficult to audit. Month-end close cycles spanning two or more weeks are common. As regulatory scrutiny intensifies under frameworks such as FASB ASU 2023-08 (which moves crypto assets to fair value accounting under ASC 350-60), GAAP, IFRS, MiCA, SEC reporting requirements, and regional standards like VARA and ADGM, the stakes for accounting accuracy and audit readiness have risen significantly.

How It Works

Cryptoworth operates through a three-layer data pipeline. The first layer connects to over 1,000 data sources—including 230+ blockchains, 80+ exchanges, and institutional custodians such as Fireblocks and BitGo—via secure APIs or public wallet addresses. Raw on-chain data is ingested in real time, eliminating manual CSV exports.

The second layer is Cryptoworth's crypto accounting data lake, which processes raw blockchain data through automated categorization logic. The platform calculates cost basis using configurable methods (FIFO, LIFO, or weighted average cost), computes unrealized and realized gain/loss, and assigns fair market values at the transaction level. Rules-based automation flags discrepancies between on-chain records and internal ledgers, enabling reconciliation throughout the month rather than in a compressed end-of-period review.

The third layer produces compliant financial outputs: structured journal entries mapped to a user-defined chart of accounts, pushed directly into major ERP systems via native sync or export. Supported general ledger integrations include NetSuite, QuickBooks, Xero, Pennylane, and Rillet. This architecture positions Cryptoworth as a subledger sitting between the blockchain and the accounting system, with finance teams retaining review control before any entry reaches the general ledger.

Key Features

The platform accounts for the full range of digital asset activity beyond simple transfers and trades. Cryptoworth handles DeFi protocol interactions (800+ protocols supported), NFT transactions, staking rewards including liquid staking income and validator profits, gaming assets (both fungible and non-fungible), and multi-entity corporate structures with multiple currencies and parallel book sets under GAAP and IFRS simultaneously.

For audit preparation, Cryptoworth generates a suite of financial reports including Trial Balance, Statement of Cash Flows, Journal Summaries, Unrealized Gain/Loss schedules, Trade P&L, Asset Disposition Logs, and impairment reports aligned with both ASC 820 fair value standards and IFRS equivalents. All entries carry full traceability and timestamped audit trails. The platform supports IPO readiness workflows and the reporting standards required for SEC-ready financial statements. The company reports that its automation reduces month-end close cycles from approximately two weeks to under one week, with a 26% efficiency improvement cited.

Solana Integration

Cryptoworth maintains a dedicated Solana integration covering the specific accounting complexities of the Solana ecosystem. Transaction data is imported automatically from Solana wallets, staking protocols, and block explorers. The platform handles Solana-specific scenarios including the chain's high-throughput microtransactions, staking reward categorization, validator profit reporting, and liquid staking income tracking. Users can configure custom reconciliation rules for Solana-specific nuances.

The Solana Foundation is publicly cited by Cryptoworth as one of their earliest and most valued customers, providing institutional-scale validation of the platform's Solana accounting capabilities. Cryptoworth also serves Solana validators and accounting firms that work with Solana-native organizations.

Security and Compliance

Cryptoworth holds SOC 2 Type 2 certification and PCI DSS compliance, and is described as AICPA-approved. Infrastructure is hosted on AWS. Beyond US GAAP and IFRS, the platform supports compliance frameworks including MiCA (EU), VARA (UAE), and ADGM (Abu Dhabi) standards.

Company Background and Funding

Cryptoworth was founded in 2017 in Toronto by Geeth Jay and Richard Pasquin with the mission of reducing the complexity of cryptocurrency adoption and management for businesses. The company has raised $5 million in seed funding from investors including CMT Digital Holdings, Headline, Kyber Ventures, ODA Capital, and P2 Ventures.

On the G2 software review platform, Cryptoworth earned High Performer designation for five consecutive seasons from Winter 2024 through Winter 2025, and was recognized in G2's Best Software Awards as the only crypto accounting solution to receive that designation in the accounting category, with a 4.9 rating.

Ecosystem Position

Cryptoworth competes in the enterprise crypto accounting software category, positioning itself specifically for institutional and professional finance teams that require GAAP/IFRS compliance, ERP integration, and audit-defensible records—as distinct from consumer-grade crypto tax tools. Its 1,000+ data source integrations, 800+ DeFi protocol coverage, dedicated chain-level accounting pages, and institutional custodian connections reflect a product built for finance teams managing significant on-chain complexity at scale.