Digital Assets & Blockchain Services

A digital strategy for tomorrow

The financial service sector has seen rapid changes over the decades due to the evolution of Financial Technology (“Fintech”) creating new opportunities and challenges. The sector is facing another disruption in the form of blockchain, cryptocurrencies and other distributed ledger technology (“DTL”). At Baker Tilly Channel Islands, we understand the full spectrum of the distributed ledger ecosystem allowing us to map your organisation’s potential risk and opportunities in this ever-changing industry.

Understand and mitigate your risk now

Organisations and individuals are embracing digital and crypto assets as seen by the level of interest, activity, and inflow of capital. This includes the adoption of cryptocurrency and other digital products in the form of exchange traded products, decentralised finance, (“DeFi”), smart contracts, and non-fungible tokens (NFTs) representing either digital native items or physical assets that exist in the real work, such as real estate, art, tickets and other memorabilia.

These innovations have created new products and services which, in the long run, have significant potential to transform the financial services industry. Organization operating in or affected by this emerging technology have to continually assess their strategic, operational and regulatory risk to navigate this ever-evolving landscape.

How we help

At Baker Tilly Channel Islands we stay up to date with the latest developments. We help bridge the gap between what is happening now and what to look for tomorrow. Our professionals understand the underlying technology in the exchanges, cryptocurrency and wider DTL market.

This hands-on experience can help our clients by providing a robust assurance process and providing trust and confidence to its members, investors, and other stakeholders.

We have been advising our fintech clients in multiple jurisdictions on a broad range of topics, including:

• External financial statement audits for organizations with cryptocurrency and other digital assets
• Agreed-upon procedures engagements
• Controls review including SOC reporting
• Well-Architected Framework Assessment
• Crypto-focused accounting policy reviews