Libra, the premier provider of middle and back office technology and data services for the crypto asset ecosystem, has launched with Trident Trust and Theorem Fund Services now live on the Libra Crypto Office platform.
Apex Fund Services, North Street Global, and Stonegate Global Fund Services are in the process of on-boarding their initial hedge fund clients. Additionally, another ten fund administrators are currently in the contracting process.
Libra is also providing fund administrator customers with the information required to support the striking of daily net asset values (NAV). IronChain Investment Trust I and IronChain MiX10 Partners LP, crypto index funds managed by IronChain Capital, are the first two funds to utilise this capability to support ongoing daily deposits and/or redemptions.
“Libra is a strategic partner and plays a crucial role in supporting Theorem’s growth plans as more and more funds deploy capital into crypto assets. Our business model requires relentless research into selecting systems that automate manual processes. The Libra Crypto Office platform automatically executes the accounting processes required for Theorem to provide world-class service for our hedge fund clients who hold crypto assets,” says Mikhail Davidyan and Stephen Giannone, Founders of Theorem Fund Services.
“Trident is an established global leader in fund administration with a number of our existing hedge fund clients already holding crypto assets. In order to provide service to our existing clients while executing on many new global opportunities, we needed to find the right crypto technology partner. Libra’s platform has delivered, and we look forward to working with Libra to support hedge fund managers who require an experienced administrator with global reach,” says Dan Smith, President of Trident Fund Services.
“Fund administrators face a myriad of challenges when dealing with crypto transactions; namely, how to efficiently collect, reconcile and transform crypto transactional data into audit-ready performance and financial information. The Libra Crypto Office platform is a proven solution to these challenges and enables administrators with an exciting new growth opportunity – providing service to funds that hold crypto assets,” says Jake Benson (pictured), Founder and CEO of Libra.
