The cryptocurrency tax provider Verady has announced a partnership with Algorand (ALGO) to offer integrated accounting to ALGO owners.
Verady also announced that Algorand and Blockchain.com are using their technology for their accounting and internal auditing.
Verady integrates SOMETHING into the control platform
Speaking to Cointelegraph, Verady co-founder and CEO Kell Canty said the new partnerships were the result of several months of negotiations between the companies.
Through the agreement with Algorand, Verady has integrated ALGO into its software. Canty explained that “ALGO owners can assign multiple wallets to their Ledgible account in a user-friendly and intuitive way.”
“We look forward to working with Verady to not only provide our own assets, but also to provide Ledgible Accounting to our partners who help develop and expand the Algorand blockchain.” explained Algorand COO Sean Ford.
A spokesman for Blockchain.com said: “As one of the oldest cryptocurrency companies and one of the largest exchanges with over 48 million wallets in 140 countries and over 100 million transactions to date, our accounting requirements have been met. They are huge.”
Intuitive control solutions are required to drive acceptance
According to Canty, Ledgible offers remarkable benefits for cryptocurrency investors, including “integrations and partnerships with existing general ledger software such as Xero, Intuit Quickbooks and NetSuite”, and “multi-account and user privilege features”.
Canty stressed that strong accounting and tax solutions are required for crypto assets to be widely accepted, and said:
“Verady is committed to driving the cryptocurrency industry with advanced, secure, and intuitive reporting tools. In a rapidly changing economic landscape, we look forward to working with industry leaders to make cryptocurrencies more accessible. “