Kaunto
Financial Services - Kuala Lumpur, Federal Territory of Kuala Lumpur, Malaysia
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Cryptocurrencies (virtual currencies) have become a wide-spread phenomenon and many companies are building products for this new and the existing economy using blockchain technologies, tokenising their products and transacting/trading and holding these digital currencies. However, using virtual currencies as a company has remained challenging due to compliance risks, volatility, difficulty of keeping track of transactions and taxes. Transactions get lost, are kept "off the books", conversion rates used are wrong and may be misleading for authorities, etc. This makes that companies using cryptocurrencies spend countless of hours a week to just do basic bookkeeping which would normally be automated if they weren't to use cryptocurrencies, which holds back many other companies from actually accepting cryptocurrencies or tokenising.Our product, Kaunto, aggregates all transaction your company is making from blockchains, exchanges, bank accounts, etc and does a lot of work on the background to accurately classify and convert your transactions back to your base reporting currencies (such as MYR, SGD, USD, etc). We then generate reports and allow accountants to manually or automatically classify transactions using standard accounting frameworks to understand the companies financial standing.
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