ATLANTA, May 7, 2019 /PRNewswire/ -- Verady - https://verady.com, the leading blockchain asset accounting, reporting, and verification company, is formally announcing its Ledgible platform feature for stablecoin monitoring. Cohen & Company (www.cohencpa.com) became the first client for this feature beginning in 2018 and has utilized the Ledgible platform to assist with reporting on multiple stablecoins. This reporting helps to ensure accurate and reconcilable asset backing.
Understanding how blockchain assets align with accounting, reporting, and verification is crucial to the adoption of cryptocurrency. "The foundation for Verady's work was developed years ago as an audit solution to verify Bitcoin assets. The Ledgible platform's accounting capabilities across blockchains, tokens, and exchanges is a natural evolution to match the ecosystem, and stablecoin monitoring is an important part of this process," said Nathan Eppinger, CTO of Verady. As the Ledgible platform continues to expand, it will add further traditional accounting platform integrations, more complex financial reporting, and a wider variety of use cases.
"The introduction of stablecoins has been very exciting to see in the industry, but working with crypto-assets is complex. Cohen & Company assists companies with the challenges of financial accountability associated with the use of stablecoins and other crypto-assets. Verady's Ledgible platform is a great tool for us in this exciting field," said Corey McLaughlin, co-President of the Investment Industry Services Division at Cohen & Company.