Tailoring Business Data Reporting with Robert Materazzi

Today’s guest on Fortune Teller is Robert Materazzi, CEO of Lukka.

Lukka provides data and software solutions to handle crypto assets on infrastructure built for the future of commerce.

Firms like State Street, Polychain, and eToro are among the customers that leverage Lukka’s Enterprise Software and Data to streamline crypto asset data, support NAV reporting monthly for over 50 crypto hedge funds across the globe.

Lukka is the leading crypto asset and crypto asset data management firm to simplify middle and back-office operations. Lukka’s infrastructure is AICPA SOC 1 Type II and SOC 2 Type II compliant, providing customers with a comprehensive, secure, and scalable framework.

Lukka provides institutional-quality crypto asset data with comprehensive coverage, accuracy, and completeness. Lukka provides organizations with Lukka Pricing and Reference Data, Market Data Feeds, Asset Classification, or Custom Solutions.

For tax and business reporting, Lukka offers tailored business data reporting powered by Lukka’s robust processing and reporting engine.

Lukka can also create custom solutions, with leading crypto data experts to help provide a custom-tailored solution for your business needs.

The Problem

When Trident Trust, a global leader in the fund administration space, first entered crypto in 2017, they had to acquire clients’ crypto transactional data via methods that were cumbersome and unsustainable (i.e., manual input, files, screenshots, etc.). Trident used spreadsheets to apply price and derive the trading activity value. Trident to manually transform the data into a format that was easy to understand by traditional fund accounting systems.

The Solution

In 2018 Trident became Lukka’s first fund administration customer. Lukka provided Trident with support for fund data collection, account balance calculations, and valuation for crypto-fiat spot trades. The Lukka Enterprise Software assisted Trident with data transformation and delivered standardized reports in a format that is directly loaded into Trident’s accounting system.

Lukka now helps Trident support crypto spot transactions, derivative transactions such as options/futures/swaps, lending, and staking activity, as well as transactions occurring on many Ethereum-based DeFi protocols.

The Results

Automated transaction data input and account balance reconciliation for over 50 crypto hedge funds.
The delivery of pricing and valuation data for more than 700 crypto assets used to support monthly NAV calculations.
Automated reporting processes for each fund client that is formatted for direct upload into Trident’s primary accounting system without any manual intervention or data.
Lukka also offers LukkaTax for Professionals for your practice’s needs. Our cloud software supports single-practitioner firms, up to firms with hundreds of individual CPAs and tax practitioners.

Company Website:https://lukka.tech

Social Media:
Instagram: https://www.instagram.com/lukka_inc/
Twitter: https://twitter.com/Lukka
YouTube: https://www.youtube.com/channel/UCWCGDbplXyKZh3IoA6B1xVw
LinkedIn: https://www.linkedin.com/company/lukka-inc

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The Fortune Teller podcast is a discussion between industry leaders in blockchain and financial technologies. The podcast focuses on the development of blockchain-based financial services and outlines the current state of the industry and future predictions for the adoption of decentralized finance. Go to www.teller.finance/