BX3 Capital, a firm offering consulting services to businesses looking to get established in the blockchain market, is excited to announce that it is onboarding Balanc3, a leading financial management services provider for digital assets, as an accounting tool. This linkup marks a partnership between two of the top businesses in the blockchain space, meaning downstream knowledge synergies for both clients and the blockchain sector as a whole.
“As a client-focused firm, BX3 Capital prides itself on early adoption of innovative solutions that help us serve our clients and in the crypto accounting space, Balanc3 is, hands down, the best and most sophisticated platform,” says Adnan Akhand, director of accounting and compliance at BX3. “Balanc3 provides us with a powerful tool that will help streamline our reporting process.”
BX3 Capital, in keeping with its goals of being at the forefront of the latest in blockchain- and cryptocurrency-related developments, recently adopted Balan3 as its accounting software to streamline its accounts and integrate the tracking that is a hallmark of blockchain technology.
The Balanc3 software platform keeps a ledger of on-chain transactions on the Ethereum network, then logs this data for easy viewing. Users can then avail of the software’s organizational functionality and arrange transactions by category to assist in recordkeeping and business reporting. Balanc3 also allows budgeting teams to use general ledger technology to handle several day-to-day accounting functions. People can manage payable and receivable accounts, then track them in real time. The software integrates with such accounting systems as Sage Intaact, Xero, and QuickBooks. Moreover, the blockchain technology on which the software is built protects accounts with private-key cryptography.
“BX3 is a recognized leader in the blockchain and cryptocurrency advisory space, and as the top crypto accounting platform, Balanc3 is proud to power BX3 Capital’s accounting service solutions,” says Max Stein, Head of Business Development at Balanc3. “We are a pioneer in creating accounting platforms tailored to digital assets, making an industry leader such as BX3 Capital a natural fit for our product.”
Balanc3 is part of the ConsenSys network of applications, a software incubator and foundry headquartered in the Bushwick neighborhood of Brooklyn with more than 1100 employees working in locations across the globe. ConsenSys was founded in 2014 by Joseph Lubin, the co-creator of the Ethereum blockchain platform. ConsenSys’ team is working on integrating yet more functions into Balanc3, including the management of digital assets using Ethereum.
About BX3 Capital
We are passionate professionals with decades of combined experience in banking, marketing, accounting, finance, tax, and law, and use our expertise to provide the necessary tools and framework to turn ideas into successful businesses in the blockchain and cryptocurrency space. We believe that the disruption that blockchain technology enables will inevitably lead to increased pushback from regulatory bodies as they see bad actors and noncompliant parties continue to take advantage of the decentralized, pseudonymous nature of the industry. We exclusively work with clients and partners who reflect our core principles of collaboration, ethics, and transparency. BX3 is headquartered in New York, NY. More at bx3.io.