Cryptio, a developer of accounting software for digital assets, raised $45 million in a Series B funding round as financial institutions and corporations expand their use of blockchain-based assets.

The round closed about three weeks ago and was led by BlackFin Capital Partners and Sentinel Global. Existing investors 1kx, BlueYard Capital and Ledger Cathay Capital also participated, the firm said. The company’s valuation wasn’t disclosed.

Cryptio’s platform helps companies track the digital assets they hold and where those assets are stored across wallets, custodians and exchanges. In January last year, the firm raised $15 million in an extension to its Series A funding round from mid-2022.

The software also helps firms manage crypto loans and monitor other blockchain-based assets. It also organizes this data so companies can produce accounting records and financial reports.

Cryptio was founded eight years ago by Antoine Scalia, after he graduated from business school in Paris. Early customers were startups and smaller crypto companies.

Now, the wave of institutional demand for digital asset infrastructure has directly benefited Cryptio, Scalia said in an interview with CoinDesk.

"We started to see what we’ve been promised since day one — that the institutions are coming," he said. Conversations with banks and payment companies that had previously stayed exploratory began turning into formal procurement processes, he added.

That shift is shaping Cryptio’s product development as more banks and financial firms enter digital asset markets. The company has expanded its software platform to support workflows around accounting, reconciliation and emerging activities such as digital asset lending and tokenization.

“The standards are being built and designed right now,” he said.

The firm employs about 110 people and serves more than 450 clients. Those clients include stablecoin issuer Circle Internet (CRCL) and the blockchain subsidiary of French bank Société Générale (GLE).

Cryptio operates in a growing market for crypto accounting tools. In January, crypto infrastructure firm Fireblocks acquired competing platform TRES Finance for $130 million.

Sentinel Global managing partner Jeremy Kranz said Cryptio has gained traction by working closely with large financial institutions and explaining how its system integrates with their existing accounting processes.

The fundraise comes as U.S. corporate adoption of the crypto space has accelerated, with the Trump administration pushing policies meant to strengthen the industry in the U.S. His cyber strategy has vowed to “support the security” of cryptocurrencies and blockchain.

Regulatory and accounting changes have also lowered barriers for institutions. Regulators replaced the SEC’s SAB 121 guidance with SAB 122, easing custody rules for banks, while new Financial Accounting Standards Board rules that took effect in 2025 require companies to report crypto assets at fair value.

UPDATE (March 12, 13:45 UTC): Adds interview with CEO starting in sixth paragraph, industry growth starting in ninth. Rewrites headline to add perspective.