Digital Asset Compatible Operations Stack
Accounting & Finance
Bitwave (Ask me for an intro)
- All things related to digital asset activity, including trading, pooling, staking, DeFi, CeFi.
- Also has a crypto invoicing solution that we haven’t used but could be a great option in the future once more multi asset support is rolled out
Quickbooks Online (NetSuite for larger companies)
- Exports from Bitwave to G/L accounts
- Easy to find bookkeeper support
Bill.com (fiat A/R & A/P)
- Bill.com is the go-to invoicing solution for anything denominated in fiat. Very simple to use, good controls, forex if needed and a lot of vendors have moved to it or can easily set up accounts. Also has the ability to time payments, etc. based on due date.
- Able to design approval rules for increasing amounts. For example, all invoices < $5,000 to be approved by one individual. Invoices above that would have different approval requirements.
DeFi activity is still hard for bankers to understand and some aren’t comfortable with providing a bank account so it’s worth taking the time to build a relationship and be open to explaining things to their compliance teams, etc. My rule of thumb is to always have 2+ banks in case they change policy.
USDC and Euro Coin move at the speed and convenience of the internet. Transcend borders, avoid bank hours, processing times and costly fees. Build your business with digital currency and accelerate your global growth.
SFOX - Exchange and OTC Brokerage
Other Treasury - On Chain Self-Custody
- Multi signature wallet with custom transaction policies by workspace to allow multiple users custody and also controls on transactions for multiple blockchains. On chain self custody solutions typically use MPC Technology.
Self-custody solutions for digital assets such as asset managers, treaury teams, neobanks, hedge funds, and more. Qredo uses MPC technology as well.
- Multi signature wallet to allow multiple users custody and also controls on transactions for Ethereum and EVM chains
- Bitwave can also handle AP/AR and bill pay for crypto needs
Payroll, Benefits Administration, & Expenses
WorkDAO is a wrap-around legal and HR solution that bridges existing regulatory structures and the innovation of Web3 to deliver equitable, legal & compliant employment to contributors and Web3 organizations.
- Employ Web3 personnel just about anywhere in the world
- Manage employees and contractors and pay them in digital assets
Token Payroll and Employment Taxes
- The only compliant solution designed for token only payroll
- Built to help foundations and DAOs
- Rippling combines all of the PEO services of something like TriNet in a modern experience with the following additional HR and IT features. This can save a lot of time and reduce hiring needs on the HR and IT front. IT becomes a part time position and HR may have one person needed (outside of recruiting needs), drastically reducing headcount and payroll costs.
- Rippling recently expanded to service international clients
- Software access management (Okta equivalent)
- Hardware device management (PC and Mac)
- Hardware device purchasing and software pre-load for onboarding
- Employee onboarding system
- Applicant tracking system
- Performance management
Corporate Cards, Recurring expenses (virtual cards), and Receipt management
What it’s great for:
- Corporate card automation and management. You can set limits, spin up new cards, etc. very easily
- Virtual cards. Really cool feature to spin up and delete a new virtual card for software subscriptions to protect card information and avoid vendor over billing
- Receipt management. Multiple ways for users to upload receipts. All of the receipt and policy management you get with Expensify or an equivalent
People and other general operations
- Applicant tracking system
- Recruiting automation including job posting creation, interview templates, etc.
- API to sync jobs to website
- Various tools for offer letters, etc.
- Note: Rippling could replace this or provide an integration with Greenhouse
- Calendly is great to find a time. No matter what some VCs may say, we’re all important and busy so wasting time finding the right time to meet is not of interest for anyone.
- Integrates with G Suite, Zoom, Microsoft, etc. to automatically populate invites and video conferencing links
- Can pull schedule from all of your calendars to avoid double booking
- Notion is a general collaboration and task management tool
- Notion used to decrease design changes and have a more fluid employee guide/handbook, can be used for project management, etc. in place of a more robust product like Jira which is best for engineering teams
- If you have a software development team, Jira is the best place to track development progress, manage sprints, and distribute and monitor work
- Jira may be a little heavy if software development is not involved, but could be a nice glue for an organization if other operations functions can use it it and communicate cross functionally with the engineering org
- Cap table management
- 409A Valuations
- Stock expense reporting exports (exercises)
Vouch (Ask me for an Intro and discount)
- D&O Insurance
- Cyber and E&O
- Work with underwriters that will write policies for crypto companies. Be prepared to pay a significant premium when working in digital asset industry.