Exclusive: Accounting startup Cryptio raises $45 million to help big firms keep track of digital assets

Core Insights - Cryptio, a crypto accounting startup, has raised $45 million in a Series B funding round, benefiting from increased institutional interest in blockchain technology [1][2] Company Overview - Cryptio provides software that helps customers track their digital assets, manage crypto loans, and monitor blockchain-related assets [2] - The company has grown significantly, now employing 110 people and serving over 450 clients, including major players like Circle and Société Générale [6] Funding Details - The Series B funding round was led by BlackFin Capital Partners and Sentinel Global, with participation from 1kx, BlueYard Capital, and Ledger Cathay Capital [2] - The funding round closed three weeks prior to the announcement, but the valuation of the startup was not disclosed [2] Market Trends - There is a growing trend of corporate adoption of cryptocurrencies, particularly after a shift in the regulatory environment under President Donald Trump [4] - Major financial institutions like Goldman Sachs and Morgan Stanley are beginning to explore digital assets, indicating a shift in the market [5] Competitive Landscape - Cryptio faces competition from other crypto accounting platforms, such as TRES Finance, which was acquired for $130 million [7] - Despite competition, Cryptio's backers believe the startup has an advantage due to its focus on building trust and explaining its services to high-end institutions [7]