The Cardano Foundation officially launched Reeve on July 8, 2025 – an open-source financial reporting solution built directly on Cardano's blockchain. Designed for enterprises, NGOs, and public institutions, Reeve creates tamper-proof financial records by integrating with existing ERP systems while enabling real-time verification and audit transparency.
Reeve addresses critical vulnerabilities in traditional financial platforms, including fraud risks, data silos, and human errors. By encrypting and timestamping transactions on-chain, it provides cryptographic proof of authenticity while allowing selective data visibility. The platform specifically targets sectors under regulatory scrutiny, enabling ESG disclosures and donor fund tracking with permanent, auditable records without third-party intermediaries.
As the first application in Cardano's broader strategy to become a digital trust layer for enterprises, the Foundation is actively pursuing partnerships with compliance-focused institutions. Following the announcement, ADA surged 3.24% to $0.5964 within 24 hours, extending its weekly gain to 6.67%. Technical analysis indicates potential for further upside, with a breakout above $0.6053 potentially propelling ADA toward $0.73.