Launch of Daxiom
11/11/2022 07:00
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RNS Number : 0536G AQRU plc 11 November 2022
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Press Release
11 November 2022
AQRU PLC
("AQRU" or "the Company")
Launch of Daxiom
AQRU plc (AQSE: AQRU), an incubator specialising in opportunities in
decentralised finance ("DeFi"), is pleased to announce that it has partnered
with Ben Sampson and Elliot Fielding, Managing Partners of the UK-based
chartered accountancy firm Sampson Fielding Ltd. ("Sampson Fielding"), to
launch a start-up under the brand "Daxiom" offering technology-led accountancy
and advisory services for institutions holding digital assets, and their
auditors.
Daxiom leverages AQRU plc's proprietary accounting software, which the Company
initially designed to support its start-up companies in the cryptocurrency and
digital assets sector, to enable institutions to quantify and independently
verify the value of the digital asset holdings, including non-fungible tokens
and cryptocurrencies, at a given point in time, as well as accurately account
for all digital transactions in a given period. With the value of digital
assets being technically complex to quantify and prone to regular swings in
value, having access to a solution that can accurately account for an
organisation's digital assets can contribute to maintaining accuracy and
auditability in financial statements.
As well as offering a technology solution that enables companies to value
their digital assets, Daxiom will use Mr. Sampson and Mr. Fielding's expertise
to advise institutions on their reporting requirements and best practice for
accounting for digital assets. Additionally, Daxiom will work closely with
clients' teams to ensure that all data collected through its accounting
software is filed accurately and reflected in their financial statements. This
advisory support is particularly important for businesses at a time when an
increasing number of organisations are holding digital assets, but there is
still a gap in guidance and best practice on how to account and report on
these assets.
Daxiom has an impressive senior leadership team made up of cryptocurrency and
accountancy professionals, including Philip Blows and Digby Try, Co-founders
and Chief Executive Officer and Chief Commercial Officer respectively of AQRU
plc, and Sampson Fielding's Managing Partners Ben Sampson and Elliot Fielding.
Mr. Sampson and Mr. Fielding have significant experience offering taxation,
financial compliance, audit, transaction and advisory services for publicly
listed and privately held companies, including in the cryptocurrency sector.
The launch of Daxiom is part of AQRU plc's efforts to use its technical and
blockchain expertise to offer a diverse portfolio of services, enabling a wide
range of investors to participate in the cryptocurrency and DeFi sector.
Philip Blows, Chief Executive of AQRU plc and Director of Daxiom, commented:
"An increasing number of organisations are entering crypto and DeFi sector
but, in doing so, they've found that accounting and reporting their digital
assets can be a challenging process, and this constraint on being able to
properly report on their assets further undermines investor confidence. By
using AQRU plc's software to quantify and verify the value of digital assets,
and Ben Sampson and Elliot Fielding's sector expertise, we're making
accounting and reporting easier and taking much of the burden off
organisations holding digital assets. We look forward to working in this
endeavour to ensure that accounting and reporting issues don't prevent
organisations and investors alike from joining crypto and DeFi and taking
advantage of the opportunities available in the sector."
Elliot Fielding, Managing Partner of Sampson Fielding Ltd. and Director of
Daxiom, commented: "The crypto sector has become increasingly popular in the
last decade and, since then, we've been frequently approached by companies
seeking assistance in reporting their digital assets. Through Daxiom, we're
combining our expertise in the digital assets sector with AQRU's tech-led
cryptocurrency and DeFi accounting solution to create a first-class offering
to support organisations operating in this space."
The Directors of AQRU plc take responsibility for this announcement.
For further information, please contact:
AQRU
Philip Blows via Tancredi +44 207 887 7633
Chief Executive
Tennyson Securities
Corporate Broker
Peter Krens +44 207 186 9030
First Sentinel
AQSE Corporate Adviser +44 203 989 2200
Brian Stockbridge
Tancredi Intelligent Communication
Media Relations
Gabriela Amaya Garcia +44 7915 035 294
Charlie Hobbs +44 7897 557 112
AQRU@tancredigroup.com (mailto:AQRU@tancredigroup.com)
About AQRU plc:
AQRU is an incubator specialising in opportunities in decentralised finance
(DeFi), a disruptive technology using blockchain and cryptocurrencies to
remove financial intermediaries from transactions, creating a cheaper, more
efficient and more secure way of providing financial services. Listed on the
Aquis Exchange in London, we apply our expertise to the business operations
and strategic plans of FinTech companies in the UK, USA and Canada, and act as
an accelerator for start-ups and early-stage companies. www.aqruplc.com
(http://www.aqruplc.com)
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