June 14, 2024
TRES Bolsters Support for 100+ Blockchains
Latest Cryptocurrency News

TRES Raises $11 Million to Expand Blockchain Accounting and Taxation Services

TRES, a platform specializing in cryptocurrency accounting and taxation reporting, has secured $11 million in funding to broaden its services across the entirety of the blockchain sector. The Tel Aviv-based company presently offers support for over 100 layer-1 and layer-2 networks, such as Bitcoin, Ethereum, Solana, and Avalanche. Their goal is to continually incorporate support for new blockchains every week, as outlined in an announcement earlier this week.

At present, TRES caters to clients with combined assets totaling $19 billion, aiding them in the management, monitoring, and reconciliation of their digital asset operations. With the growing institutional acceptance of cryptocurrencies, there is an increasing demand for accounting and taxation reporting tools similar to those available in traditional financial spheres. TRES aims to address this need by providing comprehensive solutions that enable companies to gain a precise and comprehensive view of their financial activities in the Web3 space, as expressed by co-founder and CEO Tal Zackon.

Zackon emphasized, “This facilitates seamless compliance across all accounting, audit, and reporting functions for all clients.” The successful Series A funding round has propelled TRES’ total raised capital to $18.6 million, with backing from Faction, New Form, Cyber Fund, and Ambush Capital, among others.

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Disclosure Statement: Miami Crypto does not take any external funding, or support to bring crypto news to the readers. We do not have any conflicts of interest while writing news stories on Miami Crypto.

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