Ledgermatic’s treasury and custody services goes live on the Algorand ecosystem
By Megha Bhattacharya
Ledgermatic, the treasury, finance and custody solution, announces it is now live and compatible with the Algorand ecosystem. Businesses that use the Algorand network, hold Algo’s and use native ASA tokens can leverage Ledgermatic as their custodian and back-office finance solution with a first set of clients currently active on the system.
Ledgermatic is available to token holders, Algorand-built platforms, investment funds and exchanges and is working to make Algorand staking available on its platform imminently. IBMR, the project behind ARCC, one of Algorand’s largest token holders, uses Ledgermatic as their custodian.
Sinjin Jung, Managing Director of IBMR commented: “We believe Ledgermatic is the best suited solution for our needs. It couples a highly sophisticated and secure custody service that is embedded into a treasury system so we can manage our holdings from a single portal. For diverse crypto operations, it’s a necessity for transparency, audit and administration.”
Ledgermatic CEO Luke Sully commented: “The Algorand ecosystem is a vibrant community of really impressive and focused projects. We recognized the growth in these projects and wanted Algorand to feature amongst our first set of protocols we work with. With Ledgermatic we enable Algorand activity to drive overall financial growth and convert back offices into a dynamic, secure and hyper-connected function.”
Clients can view their global digital asset positions and flows by geography, asset and business unit, allowing them to manage liquidity and exposure in real-time. Customers can also recreate their corporate structure and assign a variety of account types and third parties to the individual entities; segregated, pooled and virtual accounts can manage a variety of trading, investment and back-office activity. Users can also link their digital asset activity to their general, sub-ledger and Chart of Accounts (CoA).
W. Sean Ford, COO of Algorand said: “We are thrilled that Ledgermatic recognized the robust ecosystem developing on the Algorand blockchain, and have prioritized making their treasury and custody tools available to the accelerating number of individuals and organizations launching assets on Algorand. With compatibility across the ecosystem, digital asset businesses building on Algorand can now seamlessly tap into Ledgermatic’s offerings.”