Catallaxy, Raymond Chabot Grant Thornton’s subsidiary takes its blockchain and cryptocurrency expertise worldwide with the signing of a partnership agreement with Grant Thornton member firm in Switzerland and Liechtenstein.
Under the agreement, Catallaxy will serve as expert in their projects involving cryptocurrency auditing over the next two years. Additionally, the Swiss/Liechtenstein firm wants to use Abacus, the cryptocurrency audit software solution developed by Catallaxy. This unique association provides Grant Thornton international visibility and widespread potential.
Emilio B. Imbriglio, President and CEO of Raymond Chabot Grant Thornton said: “When we created Catallaxy in 2017, we wanted to make Montréal a global blockchain technology expertise centre in the Grant Thornton organization. The agreement signed with GT Switzerland/Liechtenstein marks the achievement of this objective.”
GT Switzerland/Liechtenstein’s clientele includes numerous cryptocurrency entities, representing some 30 projects for Catallaxy in the coming years. This first agreement should pave the way for more partnerships with other member firms of Grant Thornton around the world.
Michel Besner, Managing Director of Catallaxy stated: “Switzerland/Liechtenstein’s regulatory framework has prompted many cryptocurrency foundations to set up in that country, creating a strategic centre in the world of cryptocurrencies. We are pleased to provide our expertise, support and technological tools to help GT Switzerland/Liechtenstein become a leader in their country.”
Marco Valenti, from GT Switzerland/Liechtenstein added: “As the cryptocurrency sector is expanding in Switzerland/Liechtenstein, it’s a plus to be able to count on the benefits of the Grant Thornton organization and call on our best specialists, such as Catallaxy. Thanks to our collaboration, we will be in a position to better serve our clients’ interests and position ourselves as market leaders. The agreement was prompted by our desire to become more competitive in this growing area.”
The surge in cryptocurrencies has led an increasing number of organizations to own these types of currencies. Because of recent government positions on cryptocurrency legislation, it is imperative for auditors to obtain an understanding of this new asset class in order to implement sufficient and appropriate audit procedures. This translates into a range of issues in practice. The lack of regulations, immature technologies, security considerations and the quantity of data are major challenges for auditors and businesses alike.
The combination of an exclusive technology and a real-time audit software solution developed by Catallaxy gives Grant Thornton a competitive edge with a unique service offering specifically designed for digital asset audits that meet the auditor’s needs.
A Raymond Chabot Grant Thornton subsidiary, Catallaxy develops products and services in the fields of finance, accounting, digital economy and digitization of physical assets (consumer goods, food assets, real estate, manufacturing and legal documents). Catallaxy has a group of experts in innovative technologies, such as cryptographic data analysis, blockchain, tokenization and artificial intelligence.