Blockchain technology is not only in vogue, it is starting to disrupt the incumbent payments industry by delivering enhanced speed, security and transparency. The days of waiting for settlement look to be numbered. Transfer of other tokenized digital asset (including derivatives) in the wider asset management industry now include stable coins, real estate, loans, letters of credit and insurance products. We share our audit and accounting observations in this rapidly evolving industry to help management plan for more seamless audit and accounting services, some of which can be delivered in near real time with the correct tools, planning and experience.
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This document was prepared by Moore Stephens International in conjunction with our member firm, Armanino LLP, the largest independent accounting firm in California and a top 25 firm within the United States. If you would like to discuss how Moore team can support your organisation's approach to digital assets, please get in touch by emailing ( a.yakovlev@moore.ua ) our Head of Innovations Projects Department (Innovations Projects leader), Alexey Yakovlev or connect on LinkedIn.