TRES Secures $11M Funding for Expanding Crypto Accounting and Tax Reporting Platform Across Emerging Blockchains

TRES, a platform specializing in cryptocurrency accounting and taxation reporting, recently secured a substantial $11 million investment, signaling its intent to expand its footprint in the blockchain industry. The company, headquartered in Tel Aviv, is dedicated to furnishing comprehensive solutions for overseeing, monitoring, and reconciling digital asset activities across a diverse array of layer-1 and layer-2 blockchain networks.

At present, TRES offers support for over 100 networks, encompassing major cryptocurrencies such as Bitcoin, Ethereum, Solana, and Avalanche. Noteworthy is the company's pledge to continually incorporate support for emerging blockchains on a weekly basis, showcasing its adaptability to the dynamic developments in the cryptocurrency landscape.

TRES caters to a broad clientele, boasting combined assets valued at an impressive $19 billion. The platform plays a pivotal role in assisting clients in navigating the intricacies of their digital asset portfolios, providing essential tools for the efficient management and monitoring of their activities.

With the increasing institutional adoption of cryptocurrencies, there is a heightened demand for dependable accounting and taxation reporting tools within the crypto sphere. TRES positions itself as a solution to this growing need, offering companies a comprehensive toolset that mirrors the functionalities of traditional financial reporting tools. Co-founder and CEO Tal Zackon emphasized the significance of providing firms with a "full and accurate picture across all of their Web3 financial activity."

Beyond merely providing a service, TRES aims to streamline compliance across various facets of financial management, encompassing accounting, audit, and reporting functions. The platform envisions itself as an indispensable partner for companies navigating the regulatory complexities within the crypto industry.

The recent Series A funding round has substantially fortified TRES' financial standing, bringing the total funds raised to an impressive $18.6 million. Notable backers in this round include Faction, New Form, Cyber Fund, and Ambush Capital, underscoring the confidence and interest of key industry players in TRES' potential and vision.

As TRES continues to attract investments and broaden its support for diverse blockchains, it positions itself as a pivotal player in facilitating the seamless integration of cryptocurrencies into the broader financial ecosystem. TRES' commitment to staying abreast of blockchain advancements and its dedication to aiding clients in achieving regulatory compliance establish it as a notable presence in the continually evolving landscape of cryptocurrency services.

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