Cryptio, an accounting and data platform focused on regulated digital assets, has raised $45 million in a Series B funding round, highlighting the growing demand for tools that help financial institutions reconcile and report blockchain transactions within traditional accounting systems.
The round was led by venture capital firms BlackFin Capital Partners and Sentinel Global, with participation from 1kx, BlueYard Capital, Alven and Ledger Cathay Capital.
Cryptio develops software that helps companies coordinate activity across wallets, custodians, and exchanges, translating blockchain transaction data into accounting records used for financial reporting, auditing, and compliance.
The company says it serves more than 400 enterprise customers and has processed more than $3 trillion in transactions. Its clients include crypto companies such as Circle, Gemini and Securitize, as well as traditional financial institutions, including Société Générale’s SG-Forge.
Several other companies operate in the same Cryptio space, highlighting the emergence of a small but growing market for crypto accounting and financial reporting infrastructure. Companies like Lukka, TaxBit, Bitwave, and CoinLedger offer software that helps businesses match blockchain transactions and turn them into records that can be used for tax reporting, auditing, and regulatory compliance.
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Demand for tokenized financial infrastructure is growing
Cryptio’s growth is also fueled by increasing institutional interest in tokenized assets, which require accounting systems capable of recording and synchronizing financial activity based on the blockchain.
Sidra Parvez, senior vice president of tokenization firm Securitize, said that keeping accurate financial records is becoming more important in capital markets as traditional finance expands into tokenized securities.
Loic Fontenot, managing director of BlackFin Capital Partners, said that “digital assets are becoming embedded within regulated financial markets” that require “institutional-grade infrastructure” to support accounting, asset reporting and lending.
Major financial institutions are increasingly involved in tokenization, such as HSBC, BNP Paribas, and Goldman Sachs supporting the tokenization-focused Canton Foundation. The industry group supports the development and management of the Canton Network, a blockchain for regulated financial markets.
In January, State Street announced a new crypto tokenization tool to help clients create money market funds, exchange-traded funds, and tokenized savings.
Although estimates vary, industry data show that the total value of real tokenized assets, excluding stablecoins, has exceeded $26 billion, with most of the demand supported by private loans and US treasury funds.
Another fast-growing segment includes tokenized money market funds—blockchain-based versions of traditional funds that invest in short-term government debt and other low-risk securities.
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