Algorand connects with Ledgermatic custodial treasury

Crypto-asset custodian and financial treasury provider Ledgermatic announced today that it has launched compatibility with the Algorand ecosystem.

Ledgermatic’s innovative platform offers a host of advanced features for tracking global digital asset portfolios, facilitating liquidity and exposure management in real time.

“The Algorand ecosystem is a vibrant community of really impressive and focused projects,” said Ledgermatic CEO Luke Sully.

“We recognised the growth in these projects and wanted Algorand to feature amongst our first set of protocols we work with.”

The Algorand (ALGO) ecosystem will enable businesses reliant on the Algorand network to store its ALGO assets with Ledgermatic’s custodial service and take advantage of the platform’s sophisticated back office financial solutions.

“We are thrilled that Ledgermatic recognised the robust ecosystem developing on the Algorand blockchain, and have prioritised making their treasury and custody tools available to the accelerating number of individuals and organisations launching assets on Algorand,” explained Algorand chief operating officer Sean Ford.

“With compatibility across the ecosystem, digital asset businesses building on Algorand can now seamlessly tap into Ledgermatic’s offerings.”

Working on Algorand staking

The platform is open to token holders, Algorand-built platforms, investment funds and exchanges, and is working to make Algorand staking available imminently.

IBMR, the project behind ARCC – one of Algorand’s largest token holders – is among the first clients using Ledgermatic as its ALGO custodian.

“Ledgermatic is a highly sophisticated and secure custody service that is embedded into a treasury system so we can manage our holdings from a single portal,” said Sinjin Jung, a director with IMBR.

“For diverse crypto operations, it’s a necessity for transparency, audit and administration.”

Users of the Ledgermatic platform are able to allocate wallets within the custodial service in accordance with corporate structures, and establish linkages with sub-ledgers.

The custodial service will provide granular financial controls on ALGO assets in order to enhance security and reduce instances of fraud and waste.

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