AQRU Launches Crypto Accountancy Start-up Daxiom
AQRU plc (AQSE: AQRU), an incubator specialising in opportunities in decentralised finance (“DeFi”), is pleased to announce that it has partnered with Ben Sampson and Elliot Fielding, Managing Partners of the UK-based chartered accountancy firm Sampson Fielding Ltd. (“Sampson Fielding”), to launch a start-up under the brand “Daxiom” offering technology-led accountancy and advisory services for institutions holding digital assets, and their auditors.
Daxiom leverages AQRU plc’s proprietary accounting software, which the Company initially designed to support its start-up companies in the cryptocurrency and digital assets sector, to enable institutions to quantify and independently verify the value of the digital asset holdings, including non-fungible tokens and cryptocurrencies, at a given point in time, as well as accurately account for all digital transactions in a given period. With the value of digital assets being technically complex to quantify and prone to regular swings in value, having access to a solution that can accurately account for an organisation’s digital assets can contribute to maintaining accuracy and auditability in financial statements.
As well as offering a technology solution that enables companies to value their digital assets, Daxiom will use Mr. Sampson and Mr. Fielding’s expertise to advise institutions on their reporting requirements and best practice for accounting for digital assets. Additionally, Daxiom will work closely with clients’ teams to ensure that all data collected through its accounting software is filed accurately and reflected in their financial statements. This advisory support is particularly important for businesses at a time when an increasing number of organisations are holding digital assets, but there is still a gap in guidance and best practice on how to account and report on these assets.
Daxiom has an impressive senior leadership team made up of cryptocurrency and accountancy professionals, including Philip Blows and Digby Try, Co-founders and Chief Executive Officer and Chief Commercial Officer respectively of AQRU plc, and Sampson Fielding’s Managing Partners Ben Sampson and Elliot Fielding. Mr. Sampson and Mr. Fielding have significant experience offering taxation, financial compliance, audit, transaction and advisory services for publicly listed and privately held companies, including in the cryptocurrency sector.
The launch of Daxiom is part of AQRU plc’s efforts to use its technical and blockchain expertise to offer a diverse portfolio of services, enabling a wide range of investors to participate in the cryptocurrency and DeFi sector.
Philip Blows, Chief Executive of AQRU plc and Director of Daxiom, commented: “An increasing number of organisations are entering crypto and DeFi sector but, in doing so, they’ve found that
accounting and reporting their digital assets can be a challenging process, and this constraint on being able to properly report on their assets further undermines investor confidence. By using AQRU plc’s software to quantify and verify the value of digital assets, and Ben Sampson and Elliot Fielding’s sector expertise, we’re making accounting and reporting easier and taking much of the burden off organisations holding digital assets. We look forward to working in this endeavour to ensure that accounting and reporting issues don’t prevent organisations and investors alike from joining crypto and DeFi and taking advantage of the opportunities available in the sector.”
Elliot Fielding, Managing Partner of Sampson Fielding Ltd. and Director of Daxiom, commented: “The crypto sector has become increasingly popular in the last decade and, since then, we’ve been frequently approached by companies seeking assistance in reporting their digital assets. Through Daxiom, we’re combining our expertise in the digital assets sector with AQRU’s tech-led cryptocurrency and DeFi accounting solution to create a first-class offering to support organisations operating in this space.”
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