Business Wire

Nexo Engages Leading Accounting Firm Armanino to Provide Real-Time Attestation Over Digital Asset Holdings

Share

Nexo, the leading regulated institution for digital assets, has commissioned Armanino LLP, one of the largest accounting firms in the U.S. and a global leader in digital asset solutions, to provide real-time attestations over the company’s custodial holdings.

Through Armanino’s TrustExplorer attest platform, Nexo will offer investors, customers, and regulators the highest level of trust available in the market by means of uninterrupted access to industry-standard attest reporting and a snapshot of Nexo’s total assets and liabilities, updated daily.

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. Full information expressed in US dollars, including an open dashboard of assets and liabilities, on-demand reporting, and other information will be publicly accessible once the attestation engagement is complete.

“Because a self-regulated space means more, not less transparency, offering accurate public reserves information is an absolute requisite for crypto-native companies. 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,” commented Antoni Trenchev, Co-founder and Managing Partner at Nexo.

“We are delighted to be working closely with the team at Nexo to continue their strident commitment to offering the most trustworthy crypto lending product for global customers,” said Noah Buxton, Practice Leader of Armanino’s Digital Assets practice. “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.”

Ensuring a high level of public accountability is a decisive step towards realizing the auditability potential of the digital assets space. This is why Nexo has undertaken a year-round transparency and governance initiative, including monthly ask-me-anything sessions, a governance proposal, and a public Licenses & Registrations page.

While regulators accommodate the cryptocurrency ecosystem within existing legal frameworks, Nexo is proud to be leading the way – to not only meeting the highest industry standards, but exceeding them to set the bar higher for the entire space.

About Nexo

Nexo is the world's leading regulated digital assets institution. The company’s mission is to maximize the value and utility of cryptocurrencies by offering tax-efficient Instant Crypto Credit Lines™, a high-yield Earn on Crypto & Fiat suite, an instant Exchange service, and sophisticated trading and OTC capabilities, while providing the top-tier custodial insurance and military-grade security of the Nexo Wallet. Nexo has processed $30+ billion for 1,500,000+ users across more than 200 jurisdictions.

Official website: https://nexo.io

About Armanino LLP

Armanino LLP (www.armaninollp.com) is one of the 25 largest independent accounting and business consulting firms in the nation. Armanino provides an integrated set of audit, tax, business management, consulting and technology solutions to companies in the U.S. and globally. The firm helps clients adapt and change in every stage of business, from startup through rapid growth to the sale of a company. Armanino emphasizes smart technology, leading a cloud revolution of financial, operational, sales and compliance tools that are transforming the way companies do business. The firm extends its global services to more than 100 countries through its membership in Moore Global, one of the world's major accounting and consulting membership organizations. In addition to its core consulting and accounting practices, Armanino operates its division, AMF Media Group (www.amfmediagroup.com), a media and communications services agency. Its affiliate, Intersect Capital (www.intersectcapitalllc.com) is an independent financial planning, wealth and lifestyle management firm.

More information on Real-Time Attest:

https://www.armaninollp.com/software/trustexplorer/real-time-attest/

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Media contact for Nexo:
Stella Zlatareva
Nexo PR Team
pr@nexo.io

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

LambdaTest Launches The Phoenix Project, an Employee Resource Group for Women28.3.2024 16:00:00 CET | Press release

LambdaTest, a leading cloud-based unified testing platform, announced the launch of The Phoenix Project, an Employee Resource Group (ERG) dedicated to supporting and promoting the success of its female employees. “LambdaTest is committed to fostering a diverse, inclusive, and equitable workplace where all employees feel valued and empowered to reach their full potential,” said Chandini Chopra, VP of People and Culture at LambdaTest. “The Phoenix Project is a critical step towards achieving this goal by providing a platform for professional development, networking, and mentorship, especially for our women employees.” The Phoenix Project Aims To: Offer professional development workshops, networking opportunities, and dedicated time off for women to participate in ERG initiatives. Provide mentorship programs connecting senior female employees with mentees. Promote leadership development among women within the company. Create a sense of community for women in the workplace. Leadership and

The reopening of the Yokohama Museum of Art adds another innovative and distinctive venue for events in Yokohama28.3.2024 16:00:00 CET | Press release

After extensive renovations, the iconic Yokohama Museum of Art has reopened its doors to visitors from all over the world. The museum’s reopening paves the way to new and closer collaboration with international events in Yokohama. This extraordinary venue is the ideal setting for a one-of-a-kind gathering, in part, supported by the Yokohama Convention & Visitors Bureau (hereinafter YCVB). The Yokohama Museum of Art Founded in 1989, the Yokohama Museum of Art collects over 14,000 works of art that reflect the many facets of life in Yokohama—past, present, and future. The reopening of the museum coincides with the Yokohama Triennale, an international exhibition featuring contemporary artists whose decentralized exhibits turn the entire metropolis into an art museum. The 8th Yokohama Triennale is being held from March 15 to June 9, 2024, with the Yokohama Museum of Art being a pivotal venue for the exhibition. With the museum firmly back on the map as Yokohama’s leading artistic venue, YC

Eight new sustainability-themed experiences—exclusive to Yokohama—for convention participants28.3.2024 16:00:00 CET | Press release

In a survey conducted by Yokohama Convention & Visitors Bureau (hereinafter YCVB), many convention attendees expressed particular interest in Yokohama’s culture, sightseeing spots, and local cuisine. In response, YCVB has developed eight new Yokohama Tours for event attendees to enjoy during their free time in Yokohama, keeping in line with our ethos of sustainability. Noge Area Bar-Hopping Tour, complete with guide Known affectionately by locals as Yokohama’s kitchen, Noge is a bustling nightlife spot that is home to over 600 izakaya (Japanese-style pubs). A knowledgeable local guide will lead participants to all the hidden gems in Noge, where they can indulge in distinctive, delicious pub-style food and drink. With easy on-foot accessibility, participants can rest assured this fun night out won’t impact their carbon footprint. Soto Zen Tour of Sojiji, head temple of the Soto Zen school As a prominent Zen sect in Japan, Soto Zen provides one of the best Zen wellness experiences. Durin

Nordson EFD Releases New 3-Axis Automated Fluid Dispensing Systems28.3.2024 15:00:00 CET | Press release

Nordson EFD, a Nordson company (NASDAQ: NDSN) and leading precision fluid dispensing systems manufacturer is proud to announce the new GVPlus and PROX families of automated fluid dispensing products. Both robotic solutions share a focus on motion, workspace, repeatability, payload, setup, and vision technology enhancements. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240305726899/en/ The GV Series offers market-leading dimensional positional accuracy and deposit placement repeatability. (Photo: Business Wire) The new GVPlus automated fluid dispensing solution offers improved repeatability, bigger payloads with simplified setup requirements, and superior vision capabilities. Repeatability is now best-in-class at 8 μm, improving repeatability to ±0.008 mm. Setting up the robot is easier due to a new dual mounting flange that enables a tool payload of up to 4.5 kg (10 lbs). When paired with the working area of 400 mm x 400 m

Kolmar Korea Wins Case Against Italian Cosmetics Maker Intercos for Suncare Technology Theft28.3.2024 14:00:00 CET | Press release

Kolmar Korea (KRX:161890), a Korean cosmetics ODM (Original Development Manufacturing) company, has announced its victory in a lawsuit against Intercos Korea, the Korean subsidiary of the Italian cosmetics maker, Intercos. Intercos was revealed to have misappropriated and profited from the key technology for suncare (sunscreen) products, originally developed by Kolmar Korea. Kolmar Korea had invested hundreds of billions of KRW in this technology. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240328015022/en/ Kolmar Korea wins the case against Italian cosmetics maker Intercos for stealing suncare technology (Kolmar Korea R&D Complex) (Photo: Kolmar Korea Holdings) Kolmar Korea took legal action for 'trade secret infringement' against its former employees who have leaked the technology and Intercos Korea, resulting in favorable rulings in both civil and criminal cases. The Korean courts ordered Intercos Korea to pay KRW 200

HiddenA line styled icon from Orion Icon Library.Eye