- Nexo partners with Armanino LLP
- The partnership will provide real-time attestations over Nexo’s custodial holdings
The Nexo network has partnered with Armanino LLP, one of the largest accounting firms in the U.S. and a global leader in digital solutions. Together they will provide real-time attestations over Nexo’s custodial holdings.
With the help of Armanino’s TrustExplorer attest platform, Nexo will be able to offer its investors and regulators the highest level of security. Specifically, Nexo can provide its users and investors in the network with an interrupted access to industry-standard attest reporting and an updated snapshot of Nexo’s total assets and liabilities.
Furthermore, these attestation procedures performed are in accordance with the standard set by an American Institute of Certified Public Accountants. This includes an open dashboard of assets and liabilities which are all expressed in US dollars. In addition, all other information will be publicly available once the attestation engagement is complete.
This made the Co-founder and Managing Partner of Nexo, Antoni Trenchev react:
Because a self-regulated space means more, not less transparency, offering accurate public reserves information is an absolute requisite for crypto-native companies.
Antoni added that they are glad to partner with Armanino. “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,” he said.
Aside from Nexo Co-founder, Noah Buxton, the Practice Leader of Armanino’s Digital Assets practice also expressed his support for 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.
He further stated that they are truly impressed with the Nexo team and technology.
“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,” he stated.
Moreover, Nexos continues to meet and exceed the highest industry standards in the entire crypto space.