Cryptio, a developer of accounting software for digital assets, has raised $45 million in a Series B funding round. The round, which closed about three weeks ago, was led by BlackFin Capital Partners and Sentinel Global, with participation from existing investors 1kx, BlueYard Capital, and Ledger Cathay Capital. The company's valuation was not disclosed.
The firm's platform helps companies track digital assets across wallets, custodians, and exchanges, manage crypto loans, and organize data for accounting records and financial reports. Founded eight years ago by Antoine Scalia, Cryptio initially served startups and smaller crypto companies. It now employs about 110 people and serves more than 450 clients, including stablecoin issuer Circle Internet and the blockchain subsidiary of French bank Société Générale.
Scalia noted that conversations with banks and payment companies have shifted from exploratory talks to formal procurement processes, signaling that "the institutions are coming." This institutional demand is being accelerated by regulatory changes. Regulators replaced the SEC's SAB 121 guidance with SAB 122, easing custody rules for banks. Furthermore, new Financial Accounting Standards Board rules, effective in 2025, require companies to report crypto assets at fair value.
The funding round occurs within a growing market for crypto accounting tools. In January, crypto infrastructure firm Fireblocks acquired competing platform TRES Finance for $130 million. Sentinel Global's Jeremy Kranz stated that Cryptio has gained traction by working closely with large financial institutions and demonstrating how its system integrates with existing accounting processes.
The broader context includes the Trump administration's policies aimed at strengthening the U.S. crypto industry, with a cyber strategy vowing to "support the security" of cryptocurrencies and blockchain. This funding follows a $15 million Series A extension Cryptio closed in January of the previous year.
