AutoRek, a prominent provider of automated reconciliation and financial control solutions, has introduced Mion, a new data management and reconciliation platform engineered to manage cryptocurrency and digital asset operations with enhanced precision.
The digital asset market has experienced significant expansion, with its global market capitalization growing from under $1 trillion at the start of 2021 to over $3 trillion by May 2025. This growth, coupled with increased institutional engagement and regulatory oversight, has exposed operational gaps in traditional financial systems, which are typically designed for conventional assets operating at 2-8 decimal places. Mion addresses this by processing up to 20 digits before and 18 after the decimal point, delivering the accuracy and scale required for modern digital asset environments.
Mion’s development was a direct response to a specific client challenge. A leading US cryptocurrency custody and infrastructure provider approached AutoRek with an operational problem: existing reconciliation systems lacked the precision needed for crypto assets like Ethereum, which operates at 18 decimal places. AutoRek’s development team developed Mion within six months, building a new platform architecture capable of handling extreme precision requirements without compromising performance or scalability.
Chris Livesey, CEO of AutoRek, commented on the development: “The financial services industry is at an inflection point with cryptocurrency adoption. When our client came to us with their challenge, it became clear that this wasn’t just one client’s problem – it was an industry-wide issue that needed solving. Traditional reconciliation systems simply cannot handle the precision requirements of these assets. Mion solves this fundamental problem, enabling institutions to maintain the same rigorous financial controls for crypto that they’ve relied on for traditional assets for decades.”
Mion incorporates the core functionality that AutoRek customers have utilized for 30 years, while adding the capacity to accurately process numbers with high precision. This capability is crucial as crypto assets gain mainstream adoption, ensuring that precise matching and conversion of transaction, account, ledger, and balance positions across various currency types are not compromised by rounding or truncation.
“We’ve essentially rebuilt our AutoRek platform from the ground up for crypto, to solve a problem that clients said they were not able to deal with in other reconciliation tools,” said Jim Sadler, Chief Product, Technology and Operations Officer at AutoRek. “The challenge wasn’t just about displaying more decimal places – we had to create custom code to overcome fundamental database technology limitations. The platform features specialized proprietary functions that ensure mathematical calculations can be processed at these new levels of precision, enabling accurate valuations, currency calculations, and data aggregation for digital assets.”
The platform is designed to address several critical challenges faced by financial institutions entering the cryptocurrency space, including meeting regulatory compliance as bodies like the FCA and EU introduce new frameworks for crypto asset regulation, managing high transaction volumes driven by growing cryptocurrency adoption, accommodating the 18-decimal precision requirements of assets like Ethereum, and performing complex calculations such as FX valuations at unprecedented precision levels.
Mion’s comprehensive functionality for modern cryptocurrency operations includes extensive data ingestion capabilities, flexible rules engines, interactive dashboards, integrated workflow management, and API connectivity for external system integration. The launch aligns with global regulatory bodies developing comprehensive frameworks for cryptocurrency oversight, such as the FCA’s discussion paper DP23/4 and the EU’s Markets in Crypto-Assets Regulation (MiCA), both of which emphasize proper safeguarding and reconciliation controls for client-held assets. Mion is available immediately and will receive ongoing enhancements through AutoRek’s regular release schedule.
AutoRek is a provider of automated reconciliation and financial control solutions, serving financial institutions for over 30 years. The company’s SaaS platform supports reconciliations, data management, and reporting across sectors including asset management, payments, insurance, and banking. AutoRek is headquartered in Glasgow, Scotland, with additional offices in New York and London.
