Is the tokenized asset a security, a commodity, or a participation interest? The classification drives everything downstream — measurement basis, income recognition, disclosure requirements. We work through the analysis with you upfront so your financials are built on solid ground, not assumptions that get challenged in the first audit.
Tokenization separates economic interest from legal title in ways traditional accounting wasn't designed for. Who holds the asset on the balance sheet — the issuer, the token holder, the SPV — depends on the structure. Getting it wrong creates audit findings that are expensive to unwind. We map the accounting to the legal architecture, not around it.
Whether you're earning platform fees, management fees, origination fees, or yield distributions, revenue recognition for RWA platforms doesn't follow a single standard. We map your revenue streams to the right treatment under ASC 606 and ensure your financials reflect how your business actually generates value.
Most RWA tokenization deals run through special purpose vehicles. Consolidation analysis, intercompany eliminations, and proper equity accounting across your entity structure require someone who understands both the legal architecture and the accounting standards. We do both.
When your platform holds customer assets — whether tokenized securities, real estate interests, or credit positions — segregation from operating assets is non-negotiable. We build the accounting infrastructure that keeps customer assets clearly separated and documented, which matters to your auditors, your regulators, and your institutional investors.
Tokenized assets often lack observable market prices. Establishing fair value — especially for illiquid underlying assets — requires a defensible methodology your auditors can stand behind. We build the valuation framework and document it properly so you're not improvising when the question comes up.
Every issuance, swap, transfer, redemption, and distribution that happens onchain needs to reconcile back to your general ledger. At scale, that's not a manual process. It's a workflow we've built and refined across multiple asset classes — real estate, credit, commodities, private equity.
RWA platforms operating globally have reporting obligations in multiple jurisdictions, and different countries treat tokenized assets differently. We coordinate with tax advisors in each relevant region to keep your financials aligned across borders — and to catch issues before they become penalties.
FASB is moving, regulators are paying attention, and the accounting treatment that gets locked in now is the one you defend in every audit and investor review that follows. We stay current on every piece of emerging guidance — ASU 2023-08, SEC staff positions on digital asset disclosures, and everything in between.
When the standards are silent, we build a documented, defensible position. When they speak, we make sure you’re already compliant. That’s not a workaround. That’s what this work actually requires.
ASU 2023-08 compliance — We apply the fair value measurement standard to your crypto and digital asset holdings and keep your disclosures current.
SEC digital asset guidance — Staff positions on crypto asset disclosures are evolving. We track every update and apply it before your next filing.
Documented judgment positions — Where the standards leave room for interpretation, we write the position memo so your auditors aren't doing it for you.
Audit-ready at every stage — Whether it's a Big 4 firm or a specialist crypto auditor, we've worked through enough of these engagements to know what they'll ask.
Coordination with legal and structuring teams — Accounting decisions and structural decisions need to be made together. We operate as a counterpart, not a downstream recipient.
RWA tokenization platforms at the infrastructure and protocol level
Funds and asset managers tokenizing real estate, credit, commodities, or private equity
Startups building the rails for onchain asset issuance and settlement
Legal and structuring teams who need an accounting counterpart that understands the deal structure
Founders preparing for institutional investors or auditors who will ask hard questions about asset classification
Teams switching from a generalist firm that couldn't keep pace with onchain complexity
Still have questions? Contact us.
