Fireblocks
Fireblocks secures your assets — Coincile reconciles them
Fireblocks on Coincile
Supported Features
What We Track
Connect your Fireblocks workspace for complete visibility into vault structures, transaction policies, and multi-chain asset management. Coincile acts as the crypto subledger that bridges the gap between Fireblocks custody data and your general ledger.
- All vault accounts and balances
- Incoming and outgoing transactions
- Internal transfers between vaults
- Policy approval workflows
- Gas station usage and fees
- Staking through Fireblocks
- DeFi positions via Fireblocks DeFi
Use Cases
Fund Administration
NAV calculations and investor reporting with custody-grade data
Treasury Operations
Multi-entity treasury tracking with policy compliance
Audit & Compliance
Complete audit trails with approval workflow visibility
Multi-Chain Management
Unified view across all supported blockchains
Why Fireblocks Alone Isn't Enough for Reconciliation
Fireblocks is world-class custody infrastructure — it secures, moves, and governs digital assets. But custody is not accounting. Bridging the gap between Fireblocks data and auditable financial records requires a dedicated crypto subledger.
Custody data ≠ accounting data
Fireblocks tracks asset movements and approvals, but does not assign cost basis, calculate realized gains, or generate journal entries. Every transaction needs accounting context that custody systems were never designed to provide.
Vault structures don't map to your chart of accounts
Fireblocks organizes assets by vault accounts and workspace hierarchy. Your books are organized by legal entities, fund structures, and GL accounts. Translating between the two requires a mapping layer that lives outside the custodian.
Policy approvals are not accounting treatments
The Fireblocks policy engine ensures the right people sign off on transactions. But an approved transfer still needs classification — is it an internal move, a trade settlement, a fee payment, or a distribution? That context doesn't exist in Fireblocks.
Multi-chain assets lack unified cost basis
Fireblocks supports dozens of blockchains, but each chain's transactions are siloed. A proper subledger unifies cost basis tracking across chains so you get accurate gain/loss calculations regardless of which network an asset sits on.
No native support for GAAP or IFRS reporting
Fair value adjustments, impairment testing, multi-book reporting, and period-end close procedures are accounting functions. Fireblocks doesn't produce the journal entries your auditors expect to see in your general ledger.
Three-way reconciliation requires a middle layer
Matching on-chain state against Fireblocks records against your general ledger is a three-way reconciliation problem. Without a subledger that normalizes data from all three sources, discrepancies go undetected until audit time.
Frequently Asked Questions
How do I reconcile Fireblocks transactions with my general ledger?
Coincile performs three-way reconciliation by matching on-chain state against Fireblocks vault records against your GL entries. Connect your Fireblocks workspace via API key, map vault accounts to your chart of accounts, and Coincile automatically matches transactions across all three sources — flagging discrepancies for review instead of letting them surface at audit time.
How do I track cost basis across Fireblocks vaults?
Fireblocks organizes assets by vault accounts, but cost basis must span your entire portfolio regardless of where assets are held. Coincile unifies cost basis tracking across all Fireblocks vaults and chains using your chosen method (FIFO, LIFO, HIFO, or Specific Identification), so internal vault-to-vault transfers don't trigger false gain/loss events.
Can I generate journal entries from Fireblocks transaction data?
Yes. Coincile maps Fireblocks transaction types — deposits, withdrawals, internal transfers, policy-approved movements, gas station fees, and staking rewards — to double-entry journal entries based on your chart of accounts. Entries are generated automatically using rule-based categorization, and each journal entry links back to the original Fireblocks transaction ID for audit traceability.
Does Fireblocks provide GAAP or IFRS reporting on its own?
No. Fireblocks is custody infrastructure — it secures and governs asset movements but does not perform accounting functions like fair value adjustments, impairment testing, cost basis calculations, or journal entry generation. Coincile acts as the crypto subledger that transforms Fireblocks custody data into GAAP/IFRS-compliant financial records.
How do I map Fireblocks vault structures to my chart of accounts?
Coincile syncs your full Fireblocks workspace hierarchy — vault accounts, sub-accounts, and organizational structure — and lets you map each vault to the appropriate GL account. You can map by entity, fund, or department, and the mapping persists across new transactions so categorization stays consistent without manual intervention.
How does Coincile handle Fireblocks policy engine approvals for accounting?
Fireblocks policy approvals ensure the right people sign off on transactions, but an approved transfer still needs accounting classification. Coincile ingests the policy metadata alongside each transaction, giving your accounting team visibility into approval workflows while separately assigning the correct accounting treatment — whether the movement is an internal transfer, trade settlement, fee payment, or distribution.
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