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Valkyrie seeks to manage the treasuries of crypto companies
Valkyrie Investments has launched a treasury management service for crypto companies looking to relinquish balance sheet responsibility. Its first customer will be the recently merged NEM/Symbol Protocol, which has reported previous issues with management. Digital asset investment firm Valkyrie aims to help cryptocurrency companies manage their balance sheets. Valkyrie has launched a protocol treasury management service that will help businesses in the crypto space handle cash flow management, advanced reporting and other services, the company announced on Wednesday. “Treasury management becoming the norm is the natural evolution of a rapidly growing industry,” said Leah Wald, CEO of Valkyrie Investments. “It was inevitable that someone would offer it, and we’re excited to...
Valkyrie seeks to manage the treasuries of crypto companies
- Valkyrie Investments hat einen Treasury-Management-Service für Krypto-Unternehmen eingeführt, die Bilanzverantwortung abgeben möchten
- Sein erster Kunde wird das kürzlich fusionierte NEM/Symbol-Protokoll sein, das frühere Probleme mit dem Management gemeldet hat
Digital asset investment firm Valkyrie aims to help cryptocurrency companies manage their balance sheets.
Valkyrie has launched a protocol treasury management service that will help businesses in the crypto space handle cash flow management, advanced reporting and other services, the company announced on Wednesday.
“Treasury management becoming the norm is the natural evolution of a rapidly growing industry,” said Leah Wald, CEO of Valkyrie Investments. “It was inevitable that someone would offer it, and we’re excited to be the first to do so.”
Companies in the blockchain space often operate with hundreds of millions in funds, Wald said, and outsourcing financial management tasks will be an ongoing trend as the field continues to grow.
“[Treasury management] allows founders and developers to work on what they do best, building and expanding, while outsourcing financial matters to experienced asset managers,” Wald said.
“Projects that choose to work with a trustee to oversee their assets build even greater trust with their communities, supporters and outsiders because they bring a level of transparency and rigor to the process that others may not have considered.”
The first protocol to partner with Valkyrie on its treasury management offering is NEM/Symbol, two Layer 1 protocols that merged in 2021 with $700 million in token treasury. Treasury management has historically been a challenge for the protocols Reports. The NEM Foundation was just a month away from running out of money when it restructured in January 2019.
“Over the course of our conversations with their core team, it became clear that they and many other founders and developers spend far too much time worrying about managing money, and this is impacting their ability to lead effectively and expand at the pace they would like to,” Wald said.
The launch of the new service comes shortly after Valkyrie became the second issuer to list a futures-based Bitcoin ETF in the US, helping the company secure $1 billion in assets under management earlier this month.
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The post Valkyrie Vyes To Manage Crypto Companies’ Treasuries is not financial advice.