How R3gen Ensures Compliant FinOps for Arbitrum and TreasureDAO leveraging Cryptoworth

Elevating Crypto Accounting: The R3gen Finance Journey

This case study explores r3gen Finance's financial services overcoming crypto accounting challenges for their clients. Highlighting their strategies for managing complex crypto transactions and regulatory compliance, the study showcases their partnership with Cryptoworth, its solutions, and results.

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Objectives:

To provide comprehensive financial services tailored for Web3 projects. R3gen Finance team aims to fill the gap in professional financial services in the crypto space. They offer everything from bookkeeping to financial planning.

By navigating cryptocurrency’s regulatory and operational complexities, r3gen ensures compliance and streamlined processes for its clients.

To enable founders to focus on innovation. By handling the financial intricacies, r3gen allows crypto entrepreneurs to concentrate on what they do best.

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Challenges Faced:

The r3gen team encountered several hurdles in its mission to provide comprehensive financial services to Web3 projects:

• Complex management of digital assets: Tracking and managing assets across various blockchains demands specialized knowledge and tools.
• Compliance with evolving regulatory standards: Staying compliant within a constantly shifting regulatory landscape is daunting.
• Streamlining financial operations: They must ensure efficiency and transparency, which can be complex without a reliable tool.
• Organization Setup: The process of setting up and incorporating organizations comes with legal and financial challenges.
• Navigating DeFi: The DeFi space is particularly challenging with its unique nuances, from liquidity pools to staking mechanisms.

R3gen Finance’s clients often struggled with getting a comprehensive and reliable overview of their financial performance, managing remote teams across various jurisdictions, and preparing compliant financial accounts, among other things.

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Cryptoworth is solving problems for the most complex crypto accounting, be it DeFi transactions or cross chain swaps. They consistently surprises me with its accuracy and ability to pull nuanced data from early projects.
As a super user of crypto accounting subledgers over the years Cryptoworth has been one of the best at handling big and complex datasets. Cryptoworth is by far the most bespoke software out there and there really is nothing that it cannot do" - Elliott Watts, CFO of R3gen Finance. Read the full review at g2.com

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Solution Selection: Cryptoworth

This selections aligns its features with the identified needs:

• Comprehensive and Accurate Financial Reporting: Cryptoworth delivers real-time financial tracking and reporting, addressing the need for comprehensive financial oversight.
• Jurisdiction-agnostic Operations: The multi-entity feature allows portfolios to set their specific fiat currency and time zone to fetch fair market value in real-time effortlessly.
• Regulatory Compliance Features: Cryptoworth stays abreast of regulatory changes, incorporating compliance checks directly into its software, and ensuring clients’ financial accounts remain compliant.
• Automated Bookkeeping: With automated rules, Cryptoworth allows r3gen Finance to avoid repetitive transaction recognition and streamline bookkeeping.
• Advanced Onchain Granularity: Cryptoworth excels in managing complex on-chain assets, offering detailed tracking and valuation tools that cater to the nuanced needs of crypto assets.
• DeFi Strategy and Treasury Management: Cryptoworth’s platform is uniquely designed to recognize the complexities of DeFi. It offers tailored solutions for managing liquid staking tokens, staking rewards, and more. Its capability adapts to the specific needs of projects like Swell liquidity staking pools.

Cryptoworth’s alignment with r3gen finance’s requirements showcases the importance of selecting a solution that is equipped to handle the evolving landscape of the crypto-financial sector.

A+ team that consistently ships updates to remain at the forefront of Web3 accounting

The Testimonial:

Elliott Watts' testimonial explains the level of committment with their clients and why they chose Cryptoworth as their main crypto accounting software to enhance operational efficiency and data accuracy. You can read the full interview with Elliott here.

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The Results:

• Enhanced accuracy and customization in financial reporting: The implementation of Cryptoworth led to highly accurate financial data, customizable to the needs of each client.
• The automation and integration capabilities of Cryptoworth reduced manual efforts and streamlined processes.
• Projects like Swell benefitted from an in-depth understanding of their financial status, enabling better decision-making and strategic planning.

"Cryptoworth has the best customer support, 24/7 there is someone within the Cryptoworth team that will be able to answer your queries or jump on a call to discuss". Elliott Watts, CFO of R3gen Finance.
Read the full review at g2.com

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Key Takeaways:

The top 4 takeaways from this case study are:

• Tailored financial solutions are crucial: The complex landscape of crypto finance necessitates solutions specifically designed to address its unique challenges.
• Precision and reliability in data capture are essential: Accurate financial data is the cornerstone of effective financial management, especially in an industry characterized by rapid changes.
• The right software can transform financial management: Tools like Cryptoworth not only solve existing problems but also redefine what’s possible in crypto accounting.
• R3gen Finance leads in financial professionalism: Through its partnership with Cryptoworth, r3gen Finance establishes itself as a beacon of financial professionalism and innovation in the crypto space.

Discover how Cryptoworth can level up your crypto accounting by contacting our team or to request a free trial today.

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