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 software, Seamless Digital, our team of digital assets specialists provide you with an 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 at the core of everything we do.

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Fund Services

The Formidium Fund Services team of industry veterans has spent many years building and testing a more efficient method of fund administration using progressive, user-friendly, and secure technology. As a result, Formidium provides its clients with an industry leading NAV turnaround and customized reporting solutions, all at competitive prices.

Proprietary Technology

Seamless Digital is the world's most advanced digital assets fund administration platform. Seamless automates the intricacies of digital asset accounting with the ability to pull and cleanse large volumes of complex data from the blockchain pivotal to DeFi transactions.

CommonSubDoc^TM is a web-based investor onboarding platform designed to help manage your investor relationships and simplify the investment process. CSD solves the challenges of managing investor activity through its comprehensive online platform.

How Seamless Digital Can Help

We solve your back-office challenges with a complete web-based general ledger investment accounting system.

Solution for multiple asset classes, currencies and fee structures

API connectivity with 160+ exchanges & custodians

Handle complex allocations & waterfall calculations

Detailed reporting of portfolio at fund, & investor level

Rapid and easy onboarding on Seamless platform

Comprehensive DeFi & CeFi processing capabilities

Side pocket handling & customizable reporting platform

Access to multiple data points for managers & investors

Easy integration with external
sources

Cleanup, neutralization and sanitization of trade data

Transparency to portfolio exposure, attribution & tax lot reporting

Automated financial statements & highlights

We Solve Your Investment Backoffice

Progressive Technology

Web technology with robust I/O
framework

Domain Expertise

Over 2 million hours spent on
research & development

Mass Adopted

Successful use cases with 500 active
funds in digital assets

Scalable Solution

Scalable technology solution handles
large volume of data

Easy Integration

Flexible integration with
external sources/systems

Global Support

Dedicated IT help &
support from product team

Client Servicing

Committed client service team
in multiple time zones

Audited

Comprehensive cyber security controls
& SOC 1, 2, & 3 audited

White-labeling

Interactive GUI & white labeled
branding

Service Description

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 160 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 roll forwards 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

Digital Assets

Fund Services

Proprietary Technology

How Seamless Digital Can Help