Ledgermatic, a digital financial management platform, announced today that it is now online and compatible with the Algorand ecosystem.Companies using the Algorand network, holding ALGO and using this machine ASA token Ledgermatic can be used as their custodian and back-office financial solutions.

Ledgermatic’s customers can view their positions and flows by region, asset and business unit; allowing them to manage liquidity and risk exposure in real time.

Customers can also recreate their company structure and assign various account types and third parties to various entities; isolated, shared and virtual accounts can manage various transactions, investments, and back-office activities.

In addition, users can link their digital asset activities to their general ledger and chart of accounts (CoA). The fine-grained financial control for separation of duties, veto rights, and audit opinions is designed to greatly reduce the opportunities for Ledgermatic users to face fraud, waste, and abuse.

Algorand + Ledgermatic

“The Algorand ecosystem is a vibrant community with very impressive and focused projects. We recognize the growth of these projects; and hope that Algorand will be the first set of protocols we use. With Ledgermatic, we make Algorand Activities can drive overall financial growth and transform the back office into a dynamic, secure and highly connected function.”
—— Luke Sally, CEO of Ledgermatic

As of now, Ledgermatic is generally available to ALGO token holders, platforms built by Algorand, investment funds and exchanges. In addition, the Ledgermatic team is working hard to integrate the ALGO mortgage function.

IBMR, the project behind ARCCIs one of Algorand’s largest token holders, using Ledgermatic for custody.

“We are very pleased that Ledgermatic has recognized the strong ecosystem developed on the Algorand blockchain. It has given priority to providing funding and custody tools to more and more individuals and organizations launching assets on Algorand. Digital asset companies built on Algorand are now Ledgermatic products can be used seamlessly.”
– W. Sean Ford, Chief Operating Officer of Algorand