Digital Assets
Digital assets are rapidly evolving. It is vital to have a fund administrator who not only understands them but can efficiently and accurately account for these assets. Powered by our proprietary Seamless digital software, our team of digital assets specialists provide you with industry leading NAV turnaround coupled with the highest level of client service. Use CommonSubDoc, our cutting-edge, web-based e-signature onboarding platform, to manage your relationships and capital activity. Why Formidium? Because cutting-edge technology and high-touch client service is the core of everything we do.
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Overview
Seamless was built by industry veterans to work with multiple digital currencies. Seamless automates many parts of the fund administration process, reducing manual errors, thereby dramatically improving delivery times. Seamless comes with a secure web portal that both fund managers and investors can use to view balances, tear sheets, and more.
Seamless software, combined with our experienced global staff, enables us to provide you with the highest quality fund administration service. We pride ourselves on making the back office as seamless as possible for both you and your investors.
Features
Easy Onboarding
Industry leading on-boarding turnaround time
Strategies
All digital asset strategies including DeFi, NFT trading, and tokenization
Exchanges
Over 140+ API Integrations
across the digital asset trading ecosystem
Relationships
Connect with top banks, custodians & exchanges across the digital & traditional eco-system
SOC1/SOC2/SOC3 Audits
Audits covers professional services, operations and Technology
Transfer Agent
We are a regulated transfer agent familiar with investor needs
Automated AML/KYC
AML/KYC checks, offshore compliance services
Competitive Pricing
Straightforward, competitive pricing
API Connections
Services
Fund Accounting
- Daily independent valuation and NAV calculations
- Calculate and track of complex performance, management and other fees
- Daily maintenance of general ledger
- Easy historical accounting uploads
- Detailed reporting to support all general ledger line items
- Coin and digital asset valuation in accordance with fund requirements
- Wallet tagging and defi asset tracking
Digital Assets and Crypto Fund Administration
- Assist with setup and fund launch
- Data and analytics to drive performance
- Experts who understand your business
- Experience with high frequency, indexing, arbitrage and other digital and crypto trading strategies
- Knowledgeable with cold/hardware wallets, OTS transactions, ICOs, forks, SAFTs and SAFEs
- Robust NAV reporting package
- Full transaction ledger of trading and non-trading activity
- Common Reporting Standard compliance
- API integration and data feeds with over 140 top crypto exchanges
- Support gain/loss calculations, in-kind transfers and staking and mining rewards for all cryptocurrencies
- Adherence to Foreign Account Tax Compliance Act
- Calculation of fund and investor rates of return
- Detailed exposure, risk, performance and other portfolio reporting and data feeds
- User-friendly secure web portal for reporting and data feeds
Treasury Services
- Setup and maintenance of funds bank accounts for capital activity, operations
- Transfer balances between funds bank and custodian/trading accounts
- Expense budgeting, accruals and invoice payments
- Centralized cash payments team
- Maintain security controls and authorization levels for each counterparty or service provider
- Facilitate securities finance transactions
- Optimize the use of margin and collateral balances
- Manage excess cash balances and sweep vehicles.
Investor Services
- Support any frequency, including daily subscription, redemption and transfer dealing
- Initial and ongoing investor AML/CFT screening aligned with the regulations of the fund’s jurisdiction
- Maintenance of investor documents
- Investor statement preparation and distribution
- Serve as main point of contact for investor queries and requests
- Customized investor reporting
- Distribution of fund and manager documentation to investors
- User-friendly secure investor web portal
Audit Support
- Financial statement draft preparation in accordance with GAAP or IFRS
- Audit timeline determination with clients and auditors
- Liaise and act as main point of contact for auditors
- Preparation of cost rollforwards and other supporting reports
- Generate footnotes and related tables
- Address auditor comments and escalate to client as necessary
- Distribute final financial statement to investors, exchanges, regulators and other parties
- Preparation of year-end and semi-annual financials in accordance with US GAAP or IFRS
- Respond to audit queries and adjust financials as needed
Technology Portals
- Dynamic, user-friendly and intuitive web portals for clients and their investors
- Securely share fund documentation and client reports with investors
- Option to white label with client branding
- In-house development team customizes to meet client needs
- Built with multiple AWS disaster recovery sites
SOC 1, SOC 2 & SOC 3 Certified
Our fund services operations are SOC 1 Certified. Seamless Suite and CommonSubDoc are SOC 2 & SOC 3 Certified. Our SOC 2 audit covers cybersecurity testing, DR site testing, data backups, and other similarly important aspects of our tech infrastructure.
