Crypto Accounting Platform TRES Raises $11M to Expand Blockchain Support

Crypto accounting and tax reporting platform TRES has raised $11 million in a funding round aimed at expanding its services to include new blockchains. TRES currently serves clients with a total of $19 billion in assets, providing them with tools to manage, monitor, and reconcile their digital asset activity across over 100 layer-1 and layer-2 blockchain networks. The funding round was led by major venture capital firms Ribbit Capital and Initial Capital, with participation from other investors including Coinbase Ventures, ParaFi Capital, and Wintermute Trading. The additional funds will be used to enhance TRES’ platform and infrastructure, allowing it to support a wider range of blockchains and provide more comprehensive services to its clients. TRES aims to simplify the accounting and tax reporting processes for individuals and businesses involved in the crypto space, ensuring compliance and reducing the risks associated with digital asset management. The platform uses advanced automation and intelligent algorithms to streamline processes and improve accuracy, helping clients better navigate the complexities of crypto accounting and taxation. With the continued growth of the crypto industry and the increasing diversity of blockchain networks, TRES’ expansion will offer much-needed support to users dealing with multiple assets and platforms.