Verady launches VeraNet platform for cyptocurrency accounting and audits

Verady, a cryptocurrency accounting and audit technology company, is formally announcing a strategic partnership with Aprio, a nationally-recognized CPA-led business advisory firm, headquartered in Georgia. Aprio is a strong partner for the Atlanta-based company. Verady has been working closely with Aprio over the past several years to assist with auditing one of the world’s largest cryptocurrency payment processing companies. Today, Verady officially launched the platform that made all of this possible, VeraNet.

Aprio has worked with the Verady team to successfully complete a number of audit engagements over the past several years. Jagruti Solanki, Assurance Senior Manager at Aprio, stated:

“With the assistance of the Verady team and the VeraNet platform, we were able to efficiently complete our financial statement audits, including a complete reconciliation of the bitcoin transactions and bitcoin assets held by our customer. Through our partnership with Verady we will now be able to provide a wide array of financial assurance services to companies and their third-party intermediaries that use cryptocurrencies or the blockchain in their everyday business.”

Understanding how blockchain assets align with Generally Accepted Accounting Principles (GAAP) is crucial to the adoption of cryptocurrency for everyday use. The founders of Verady intend to lead the way and have been working in the space since 2013

Nathan Eppinger, CTO of Verady said:

“The idea for VeraNet was developed four years ago as an audit solution to verify bitcoin asset control, transaction volumes, and historical balances. With cryptocurrency not having widespread adoption yet and a market cap of under one billion, the timing wasn’t quite right then.”

The company will soon be making an announcement for the initial token offering of VERA, currently scheduled for early 2018.

Kell Canty, Verday, CEO stated:

“The growth of all cryptocurrency has been very exciting to see this past year, but the use of cryptocurrency comes with challenges. We created Verady to assist companies with the challenge of financial accountability associated with the use of blockchain assets. As the VeraNet platform expands, it will incorporate accounting platform integrations, tax liability calculations, more complex financial reporting, and a wider variety of use cases.”