TRES Raises $11M for Blockchain Expansion: New Era for Crypto Accounting

• TRES Raises $11 Million for Blockchain Industry Expansion
• TRES: Offering Support Across Various Networks
• Managing Combined Assets Worth $19 Billion
• The Increasing Demand for Crypto Accounting Channels
• Series A Funding Round
• Related News: Blockpit Acquires Rival Accointing From Glassnode

TRES Raises $11 Million for Blockchain Industry Expansion

TRES, a leading platform for cryptocurrency accounting and taxation reporting, has successfully secured $11 million in funding to broaden its reach in the blockchain sector.

TRES: Offering Support Across Various Networks

Based in Tel Aviv, TRES currently extends support for more than 100 layer-1 and layer-2 networks. This includes popular platforms such as Bitcoin$42,260 -0.64%, Ethereum$2,315 -2.42%, Solana$104 5.03%, and Avalanche. The organization aims for continuous expansion, with plans to add support for additional blockchains on a weekly basis.

Managing Combined Assets Worth $19 Billion

The platform currently caters to clients possessing combined assets of around $19 billion. TRES aids these clients in managing, monitoring, and reconciling their digital asset activities.

The Increasing Demand for Crypto Accounting Channels

With the increasing institutional adoption of the crypto industry, there is a growing demand for tools that can assist with accounting and taxation reporting. These services are crucial, much like in the traditional financial world. In meeting this demand, TRES is poised to offer firms a comprehensive solution for all of their Web3 financial activities.

TRES' approach ensures customers can stay compliant across various functions, including accounting, auditing, and reporting.

Series A Funding Round

The recent Series A funding round has seen TRES' total funds raised reach $18.6 million. Notable contributors to the funding include Faction, New Form, Cyber Fund, and Ambush Capital.

Related News: Blockpit Acquires Rival Accointing From Glassnode

In related news, crypto tax platform Blockpit has recently acquired its competitor, Accointing, from Glassnode.

Edited by Jonathan Stoker