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Matrix Exchange Builds a Custom Crypto Accounting Solution With Softledger

Facing the challenge of identifying suitable accounting software, Matrix quickly realized that traditional solutions lacked the necessary functionality to handle crypto transactions.

They turned to SoftLedger, adopting their custom crypto accounting solution to manage all their cost bookings, client transactions, and crypto assets.

About Matrix Exchange

Matrix, a leading virtual asset exchange and custodian based in Abu Dhabi, has quickly gained prominence since its launch in May 2021. With a focus on providing a secure and reliable platform, Matrix has responded to the increasing demand for safe crypto exchanges.

Driven by their mission to be the most trusted gateway into virtual assets, Matrix aims to establish a global client base by offering exceptional cold storage and risk management systems.

The Problem

Matrix wasn’t sure what kind of accounting software they needed in the beginning and basically began with a blank slate. The crypto space is new, and requires constant revaluation and fine-tuning to manage. They realized early on they wouldn't be able to use a traditional accounting software because they all lacked a robust crypto functionality.

Without this capability, Matrix had to rely on employees to manually manage their crypto assets - a daunting task given the volume of virtual assets involved.

The SoftLedger Solution

To address these issues, Matrix turned to SoftLedger, adopting their crypto accounting software shortly after launch. The user-friendly nature of SoftLedger proved highly beneficial for Matrix's employees, who found it intuitive and comprehensive.

Matrix also came to value SoftLedger's flexibility, as the software provider offered priceless assistance in optimizing the platform to suit their specific business needs. The collaborative approach resulted in effective troubleshooting and prompt customer support.

"

We love how intuitive it is. If you have ever used an accounting system, you can simply come in and pick it up. It’s not lacking any functionality, and it’s so easy to understand.

As SoftLedger continues to enhance its platform based on customer feedback, Matrix can rely on their reliable and responsive customer support team for full-service assistance. With the seamless integration of SoftLedger, Matrix has gained a robust accounting solution tailored to the unique demands of the crypto space.

More Case Studies

Anti Capital Tackles Complex Crypto Management with SoftLedger's API
Before adopting SoftLedger, Anti Capital faced the arduous task of juggling multiple software solutions for its complex crypto management tasks - while trying to avoid the inefficiencies of spreadsheets. The introduction of SoftLedger's automated API function was a game-changer. This newfound efficiency has accelerated their reconciliation process and opened doors for expansion into uncharted territories.
How AAG Streamlined Their Multi-Currency Accounting System
With offices and investment strategists across the globe, the Anglo Andino Group grappled with the lack of a unified, multi-currency accounting system.

SoftLedger's versatility and cloud-based platform empowered AAG to solve this problem and enabled them to streamline their operations. Here's how they did it.

Bitwage Manages Crypto Payroll With Softledger
As a crypto payroll provider on the cutting edge, Bitwage found themselves lacking a robust ERP that could actually handle crypto accounting. Their reliance on spreadsheets resulted in inefficiencies and slowed growth.

See how SoftLedger's platform and API reduced Bitwage's accounting maintenance, freeing them up to expanding its market share and driving growth instead.

Frequently Asked Questions

Yes, users have the option to use their own chart of accounts or SoftLedger’s standard chart of accounts when getting started with SoftLedger.  SoftLedger’s flexibility allows users to make changes to their charts by easily adding new accounts.

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