Overview
Tezos Foundation is a Swiss-based organization managing significant digital asset holdings in support of the Tezos blockchain ecosystem. With complex treasury operations spanning multiple custodians, their finance team is responsible for digital asset accounting, IFRS reporting, and audit preparation.
The Challenge
As the Foundation’s digital asset operations matured, their existing crypto accounting platform was no longer meeting the bar required for accurate, auditable reporting.
“The biggest issue was the amount of technical mistakes and data inconsistencies we experienced in the platform,” said Mia Tomicic, Senior Financial Accountant at Tezos Foundation. “Instead of focusing on the actual finance work, we first had to identify and fix errors in the system outputs.”
Compounding the problem, slow and insufficient customer support meant errors took longer to resolve, creating additional delays ahead of close cycles. The team eventually reached a tipping point.
“We came to the conclusion that the amount of time spent reconciling balances and checking platform errors was simply not worth it anymore,” said Tomicic. “It became clear that we needed a more reliable and technically stronger solution.”
The Solution
After evaluating the market, Tezos Foundation selected TRES as their digital asset accounting platform.
“What really convinced us was the strong impression that TRES truly understands both the technical and the accounting side of digital asset reporting,” said Mia. “That combination is rare, and it gave us confidence that they knew exactly what they were doing and what finance teams actually need.”
Onboarding was smooth from the start. The TRES team provided hands-on support through custodian connections and initial setup validation, with fast response times whenever questions arose.
The Impact
By implementing TRES, the Foundation has significantly reduced the manual effort that previously burdened their finance team.
“This has allowed us to focus much more on analysis and reporting rather than technical clean-up work,” said Mia.
Today, the Tezos Foundation team uses TRES across their full month-end close process – including monthly reconciliations, wallet balance validation, internal transfer tracking, transaction investigations, audit support, standardized data exports, and staking and baking rewards tracking.
The most valuable capabilities for the team:
- Reconciliation – faster, more reliable month-end close
- Discrepancy analysis – pinpointing and resolving balance differences quickly
- Dashboard financials – key data surfaced directly, without manual exports
- Support quality – issues resolved with both technical and accounting context
“The support experience was honestly one of the most valuable parts because issues were handled quickly and with a strong understanding of both technical and accounting implications,” said Mia.
Looking Ahead
Tezos Foundation would “strongly recommend” TRES to crypto foundations, digital asset investment firms, and teams that have outgrown spreadsheet-based crypto reconciliation and need finance-grade controls.
Interested in TRES?
