Valkyrie tries to manage the treasury of crypto companies
Valkyrie tries to manage the treasury of crypto companies
- Valkyrie Investments has introduced a treasury management service for crypto companies that want to take responsibility
- His first customer will be the recently merged NEM/symbol protocol that has reported earlier problems with management
The digital asset investment company Valkyrie wants to support cryptocurrency companies in the administration of their balance sheets.
Valkyrie has introduced a protocol trasury management service that will support companies in the crypto area in the processing of cash flow management, extended reporting and other services, the company announced on Wednesday.
"The fact that treasury management becomes the norm is the natural development of a rapidly growing industry," said Leah Wald, CEO of Valkyrie Investments. "It was inevitable that someone would offer it, and we are happy to be the first to do this."
Companies in the blockchain sector often work with funds in the amount of hundreds of millions, said Wald, and the outsourcing of financial management tasks will be a persistent trend because the area continues to grow.
"[Treasury Management] enables founders and developers to work on what they can do best, structure and expansion, while financial matters are outsourced to experienced asset managers," said Wald.
"Projects that decide to work with a trustee to monitor their assets, build even more trust in their communities, supporters and outsiders because they bring a level of transparency and strictly into this process that others may not have considered."
The first protocol that works with Valkyrie on its treasury management offer is a/symbol, two Layer 1 protocols that merged with a token trasure of $ 700 million in 2021. In the past, treasury management was a challenge for the protocols report . In its restructuring, the NEM Foundation was only removed from the lack of money for a month from the lack of money in January 2019 .
"In the course of our conversations with your core team, it became clear that you and many other founders and developers spend far too much time to worry about the administration of money, and this would impair their ability to lead effectively and to expand at their pace," said Wald.
The new service starts shortly after Valkyrie was the second issuer, a Bitcoin ETF based on future-based Bitcoin ETF, which helped the company to secure $ 1 billion in managed assets at the beginning of this month.
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The contribution Valkyrie Vyes to Manage Crypto Companies ’treasuries is not a financial advice.