Cryptio Insights

Cryptio raises $45M Series B to build data transformation and ERP platform for regulated digital assets

greg.bland@cryptio.co (Greg Bland) — Fri, 13 Mar 2026 16:07:47 GMT

Antoine Scalia, Founder & CEO, Cryptio

Why banks and exchanges need a reliable data bridge for crypto

Tunde Zhu — Wed, 11 Feb 2026 11:58:38 GMT

The data problem every crypto institution faces

As crypto businesses scale, their data stack fragments. Exchanges, banks, asset managers, payment providers, brokers, custodians, and fintech platforms all rely on multiple internal systems to run their operations - from trading engines and custody infrastructure to treasury tools, payment rails, and proprietary databases.

Uniswap Labs: Revenue recognition across 14 chains, complex smart contracts and 5000+ tokens

greg.bland@cryptio.co (Greg Bland) — Wed, 04 Feb 2026 11:45:54 GMT

Uniswap Labs

Crypto lending under MiCA: A practical guide to operational readiness for European banks and regulated lenders

Tunde Zhu — Wed, 04 Feb 2026 11:39:22 GMT

Crypto lending is moving decisively into the regulatory mainstream in Europe.

With the introduction of the Markets in Crypto-Assets Regulation (MiCA) in May 2023, and its phased application across 2024, banks and regulated financial institutions can no longer treat crypto lending as an experimental or peripheral activity. Whether offering lending to institutional counterparties, corporates, or retail customers, firms must now meet clear requirements around governance, risk management, reporting, and transparency.

Cryptio: The obvious choice for NetSuite users

Tunde Zhu — Thu, 15 Jan 2026 17:31:11 GMT

Built for finance teams managing complex, multi-entity digital asset operations in NetSuite

NetSuite is the ERP of choice for sophisticated finance teams. But once digital assets enter the mix – multiple subsidiaries, inter-company flows, token operations, high-volume trading – traditional accounting tools begin to fall apart. They flatten data that should remain structured, rely on brittle CSV workflows, incompatible subledger integrations, and generate journals that miss the subsidiary and classification context NetSuite requires. The result is slower closings, more manual work, and higher operational risk.

Cryptio’s Stablecoin Regulation Map: a practical tool for navigating global issuance frameworks

greg.bland@cryptio.co (Greg Bland) — Wed, 14 Jan 2026 13:33:48 GMT

Stablecoins are no longer a niche crypto primitive. They are increasingly used for payments, treasury management, settlement, and cross-border value transfer – and, as a result, they are rapidly becoming part of the regulated financial system.

Tokenization – does it really make compliance easier?

greg.bland@cryptio.co (Greg Bland) — Mon, 08 Dec 2025 15:50:52 GMT

Key takeaways

Tokenization is beginning to embed compliance directly into technical infrastructure, with real-time reconciliation, programmable rules, and identity-linked wallets automatically enforcing regulatory rules.
Early tokenized securities are already trading at scale – Kraken’s xStocks have seen billions in volume – but only in markets where regulatory clarity enables them.
Smart-contract automation promises major efficiencies across settlement, reporting, and AML/KYC, yet these benefits rely on synchronizing on-chain activity with off-chain books and records.
Regulation remains a “hornet’s nest,” with open questions spanning transfer agents, custody rules, disclosure regimes, and beneficial-ownership reporting across SEC, CFTC, FINRA, OCC, the Fed, and MiFID II.
Tokenization also introduces new risk vectors – from bridge failures to private-key loss and AI-driven proliferation – raising the risk that retail users travel further out the risk curve than they realise.

Keynote and fireside with Strategy CFO: digital credit & the future of corporate finance

yousuf.mirza@cryptio.co (Yousuf Mirza) — Thu, 20 Nov 2025 15:57:43 GMT

Key takeaways

Bitcoin has matured as digital capital - now widely adopted across Wall Street and held by more than 200 public companies.
Strategy’s balance sheet exceeds 640,000 BTC (≈ 3 % of total supply), acquired through multiple funding channels since 2020.
The company’s financing model turns Bitcoin into a full credit stack - from short and mid-term convertibles to perpetual preferreds.
NASDAQ-listed securities have opened Bitcoin-backed yield to both institutional and retail investors.
Fair-value accounting and CAMT guidance have normalized reporting and taxation for Bitcoin treasuries.
The benchmark for others: governance discipline, transparent KPIs, and one goal - increase Bitcoin per share.

Speakers

Andrew Kang – CFO | Strategy

Moderator (fireside): Hemant Pandit – CRO | Cryptio

Bitcoin as digital capital

“Bitcoin is digital capital,” Kang opened. Over the past two years, Wall Street’s attitude has shifted. “We’ve seen mass adoption” catalyzed by the launch of ETPs in 2024, a more favorable legislative backdrop, and demand from both institutions and retail driving price and liquidity.

More than 200 public companies now hold Bitcoin as a balance-sheet reserve, taking advantage of its core premise as a store of value and the primary store of digital value. Kang called it “the most foundational digital asset in the crypto economy - above all else.”

Strategy’s own position - over 640,000 BTC worth roughly $70 billion - represents about 3% of total supply. It has acquired Bitcoin every quarter since August 2020 using working cash, debt, common stock and now preferred equity.

“The scale and the timeline of when we began is a true differentiator of Strategy,” Kang said, “not many can say that the acquisition of that is in the $47,000 range”

From convertibles to perpetual preferreds – the Strategy playbook

Kang described the company’s financing evolution as product-led. Strategy began with convertible debt, becoming “the largest issuer of convertibles in the world” in 2024. But that market, he said, “is a very closed system - institutional only’ in addition to ‘having a ceiling’.

“The retail part is very important”. To expand access, Strategy designed perpetual preferred equity: “no call option, truly perpetual - a forever instrument against a forever asset.” These listed securities raise capital without dilution and appeal to both retail and institutions through fixed dividends and tax-deferred treatment.

The company has issued four preferred series – STRK, STRD, STRF and STRC – each at a different point on the risk and duration spectrum. The most recent, STRC (‘Stretch’), was the largest IPO of 2025 at $2.5 billion, including $650 million in retail participation – it had the largest concentration of any of Strategy’s previous IPOs.

Retail access, Kang emphasized, is deliberate.

“Every person in this room can buy our preferreds on Robinhood or E-Trade,” he said. “To us, it’s about expanding the funnel – giving people aligned to Bitcoin a way to find value in different financial products backed by Bitcoin.”

Building a Bitcoin credit market

Strategy’s balance sheet now combines $8.2 billion of debt, about 1.1 times levered, with $6.6 billion of preferred equity, backed by $70 billion of unencumbered Bitcoin. “That’s a conservative profile relative to our asset base,” Kang noted.

Asked how the company funds dividends, he pointed to daily liquidity and coverage: “We could capture the full annual preferred-dividend expense, around $670 million, within a week if we needed to.”

Kang described the current focus as “finding untapped pockets of capital” - particularly the global fixed-income market, of which Bitcoin credit is only ~$6 billion today. “The credit markets are completely untapped when it comes to Bitcoin exposure,” he said. The objective is “finding large untapped markets that we can grow into and access through innovation”.

Strategy’s instruments, taken together, form a Bitcoin yield curve - convertibles for leverage, perpetual preferreds for long-term yield, short-term notes for liquidity. Effective yields on the higher-risk tranches reach 12–13%. “Anyone could play in any sort of this bucket based on the type of appetite you have,” Kang said.

Accessibility, transparency and investor trust

Kang highlighted the importance of making instruments both understandable and tradable. “Listing them on NASDAQ, giving them four-letter tickers - that’s how you make them marketable in a way people recognize,” he said.

Institutional investors, he added, now understand the mechanics. “The question isn’t whether they get the instrument - it’s whether they have a view on Bitcoin.” Many of the world’s largest asset managers already hold exposure through Strategy’s products.

For retail, the appeal is simpler: yield and familiarity. Kang joked that even skeptics were starting to participate. “We call this persona Uncle Clarence - the guy always trying to find holes in Bitcoin. Even he probably bought some. Because if you can earn 10% on a short-term, tradable investment instead of 3% in a money-market fund, it’s an easy decision.”

Shaping Fair-Value accounting and corporate tax reform

Kang described transparency and collaboration as the foundation of Strategy’s operating model. He said the company was “extremely interactive with FASB from day one,” helping shape how digital assets are recognized on corporate balance sheets. In addition to submitting comment letters and participating in the broader legislative process with the FASB, Strategy also engaged with the IRS and SEC on tax and disclosure policy – coordinating with other Bitcoin-native firms to advocate for clear, consistent treatment across corporate reporting and taxation frameworks.

Two shifts followed that have improved corporate adoption:

Fair-value accounting – FASB’s move from impairment-only to mark-to-market lets companies reflect economic reality. The change enabled Strategy to report $14 billion in operating income and $10 billion in net income in one quarter due to fair value gains recognized. prices rose.
Corporate Alternative Minimum Tax (CAMT) – in response to industry advocacy, the IRS clarified that digital assets will not be subject to unrealized-gain treatment under CAMT - a change Kang said removed a “tremendous tax burden” for corporates holding Bitcoin.

He also encouraged newer treasuries to adopt institutional standards. “Look at the experience of the management team, the maturity of the business model, the sophistication of the board, and the awareness of risk management frameworks,” he said. Take a “transparent approach to not only investors… but also the environment and the ecosystem as a whole. It’s not a closed environment. We are trying to grow this.”

First principles and long-term focus

For Kang, the guiding metric remains clear: increase Bitcoin per share.

“The purpose of a Bitcoin treasury company is to generate Bitcoin yield and accrete more Bitcoin on the balance sheet,” he said. Every instrument, from convertibles to preferreds, is designed around that principle.

The company’s long-term view is unchanged: never sell.

“We’ll hold it until it becomes the dominant digital asset in the world,” Kang said. “It’s not going to zero anymore - it’s only going to a million and beyond.”

In the medium term, the focus is continued product innovation - issuing preferreds in new currencies and regions and expanding into untapped credit markets.

The takeaway

Bitcoin treasuries are evolving from passive holders to active capital architects - by building trust-based financial infrastructure around their assets.

Strategy can do this because of credibility earned over time: consistent accumulation, conservative leverage, and transparent reporting. The company discloses live metrics such as mNAV and Leverage, while focusing on KPIs including Bitcoin per share and Torque - benchmarks that give investors confidence its capital structure is sound.

That credibility allows Strategy to issue perpetual, listed, Bitcoin-backed instruments - something few others could do at similar scale - turning its balance sheet into a platform for market access.

For treasuries, Kang’s message was pragmatic: believe in Bitcoin, build access, manage risk, and measure everything in Bitcoin per share.

About Cryptio

Cryptio is the leading financial data platform for crypto accounting, tokenization compliance, and lending.

Trusted by over 450 clients including publicly listed treasuries such as Metaplanet, Strive and Sharplink Gaming, Cryptio delivers enterprise-grade infrastructure that translates complex on-chain activity into auditable, GAAP and IFRS-ready financial records.

Book a demo to find out more.

View from the FASB and leading auditors

greg.bland@cryptio.co (Greg Bland) — Fri, 14 Nov 2025 11:02:27 GMT

Key takeaways

Crypto has entered the FASB’s top priorities, with stablecoins and initial measurement, recognition and de-recognition of crypto assets across staking, lending and liquidity pools/DeFi now on the board’s research agenda.
Stablecoins could become the first “cash equivalents” of the digital era, but proof-of-reserve attestations and control environments remain key audit challenges.
Auditors aren’t waiting for perfect guidance – they’re making pragmatic calls now to keep financial statements relevant and decision-useful.
Gross-versus-net presentation and DeFi auditability are the next frontiers, as firms work to align accounting outcomes with economic substance rather than legal form.
Incremental progress and collaboration are defining this new phase, with standard-setters and practitioners tightening the feedback loop between blockchain activity and GAAP reporting.

Institutional approach to crypto lending

rohan.shivaprasad@cryptio.co (Rohan Shivaprasad) — Fri, 07 Nov 2025 17:20:59 GMT

Key takeaways

Lending fundamentals remain timeless, as institutions apply tried-and-tested credit discipline to a faster, more transparent, and data-driven digital-asset market.
Professionalization is reshaping the market, with lenders adopting regulated processes, 24/7 operations, and governance frameworks aligned with traditional financial standards.
Risk frameworks mirror those of traditional finance, using liquidity-based exposure caps, dynamic LTVs, and real-time collateral monitoring under segregated custody.
Crypto credit is moving towards institutional-grade experiences, where end-to-end platforms deliver seamless, personalized, and compliant services tailored to professional counterparties

Panelists

Matthew DeCicco - Head of Digital Assets for Global Markets | Cantor Fitzgerald
Justin Davda – Senior Director of Product | Coinbase
Max Bareiss – Director of Lending | Galaxy Digital
Dhruv Patel – Chief Executive Officer | Arch Lending
Moderator: Cheryl Lesnik, Partner | PwC

Building trust, the traditional way

Crypto lending may be a $60–$80 billion market today - tiny compared to the trillions in global credit - but it is increasingly being built on the same foundations of trust, structure and discipline that have long defined traditional finance. The panelists agreed that scaling this market will depend as much if not more on solidifying these decade old principles, as it will on technological innovation.