Accounting firm Armanino has recently been commissioned by Nexo to provide “real-time” attestations over the company’s custodial holdings.
Through Armanino’s TrustExplorer attest platform, Nexo will offer investors, customers, and regulators a level of trust available in the market by means of uninterrupted access to industry-standard attest reporting.
The attestation procedures performed are in accordance with the standards set by the American Institute of Certified Public Accountants, with the results to be communicated in due course across Nexo’s channels.
Antoni Trenchev, co-founder and managing partner at Nexo, said: “We are happy to have opened our books to allow Armanino, an expert accounting firm with an impressive digital assets practice, to verify that our company’s assets exceed liabilities at all times and demonstrate how seriously we treat Nexo’s commitments to our customers.”
Noah Buxton, practice leader of Armanino’s digital assets practice, added: “The Nexo team’s ethos impressed us from day one, and we continue to be aligned in our belief that crypto assets allow for more trust and transparency to customers and markets than traditional financial products.
“Innovation and self-regulation are the path forward.”