Ledgermatic treasury and custody solution now live for the Algorand network
Ledgermatic, a digital treasury management platform, announced today it is now live and compatible with the Algorand ecosystem. Businesses that use the Algorand network, hold ALGO, and use native ASA tokens can leverage Ledgermatic as their custodian and back-office finance solution.
Clients of Ledgermatic can view their 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.
Moreover, users can link their digital asset activity to their general sub-ledger, and Chart of Accounts (CoA). Granular financial controls for segregation of duties, veto rights, and audit views aim to vastly reduce the opportunity that Ledgermatic users are exposed to fraud, waste, and abuse.
Algorand + Ledgermatic
“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.”
– Ledgermatic CEO, Luke Sully
As of now, Ledgermatic is generally available to ALGO token holders, Algorand-built platforms, investment funds, and exchanges. Further, the Ledgermatic team is working to integrate an ALGO staking function.
IBMR, the project behind ARCC, one of Algorand’s largest token holders, uses Ledgermatic for custody.
“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. Digital asset businesses building on Algorand can now seamlessly tap into Ledgermatic’s offerings.”
– W. Sean Ford, COO of Algorand