ATLANTA, Nov. 5, 2020 /PRNewswire/ -- Verady, maker of the Ledgible cryptocurrency tax, accounting, and financial reporting platform, today announced a partnership with Digital Asset Research (DAR), the leading cryptoasset data and analytics firm. DAR is the preferred source for institutional level pricing for cryptocurrency market values and will be fully available in Verady's Ledgible platform for tax, business accounting, and financial reporting. The valuation of cryptoassets can have a significant impact on portfolio accounting and taxes.
"There are few standards for cryptoasset prices, so we are partnering with Digital Asset Research who clearly leads the market in assessing digital currencies and assets and offers clean prices for our Ledgible clients with institutional requirements," said Kell Canty, CEO of Verady. "By offering options to our clients, we can give them more ways of finding value and accurately complete the short and long term cryptocurrency activity for the taxpayer."
DAR provides comprehensive data and research in the digital asset space for institutional market participants with clean crypto prices, market data and independent research. The company offers clean and reliable data through its vetting of assets and exchanges and in-depth analysis on technology, security and market structure.
"Our fundamental understanding of cryptoassets and history in financial markets provides institutional rigor to the cryptocurrency market. Our comprehensive vetting methodologies allow us to identify economic trading between real buyers and sellers in this market in order to accurately price these assets," said Erin Friez, COO and General Counsel with Digital Asset Research. "Working with Verady and their Ledgible platform brings our pricing and data to customers who need a way to account for their cryptoassets."
DAR's objective is to provide transparency to the cryptocurrency space through a comprehensive diligence process, giving market participants access to clean, objective market data, as well as analysis and insight into market structure, price discovery, and other topics of interest to market participants. This includes DAR's Industry Taxonomy, which organizes over 400 digital assets by use case, underlying technology, and other features, allowing market participants to construct a portfolio around specific themes, to measure performance against other asset classes, or to evaluate risk and exposure. Verady completed its System and Organization Control SOC for its platform used for accounting blockchain transactions. Ledgible integrates with tax and accounting platforms allowing clients and finance professionals to account for Bitcoin and other cryptoassets within accounting systems. Ledgible enables clients to save time and ensure accuracy by consolidating information directly from cryptocurrency data.
About Digital Asset Research Digital Asset Research provides clean pricing, market data, events calendar and a comprehensive industry taxonomy for crypto assets, as well as research and analysis. DAR is headquartered in New York and provides data and research to institutional clients including investors, asset managers, administrators, custodians, fintech platforms and other financial service customers requiring high quality data and research. DAR is partnered with FTSE Russell for crypto indexes, currently in indicative form. For more information, please visit digitalassetresearch.com or reach out to [email protected].