/case-studies/coinberg
fintech · portfolio ops · nav & reconciliation 2018-

Coinberg.

Real-time portfolio, exposure and NAV monitoring for crypto funds.

A monitoring platform that ingests 100,000+ transactions an hour from 50+ exchanges, blockchains and custodians, reconciles them against a fixed daily boundary, and holds fund exposure to a five-minute refresh. In production since 2018.

python connexion react node postgresql aws

At a glance

// the product

A portfolio operations platform for crypto fund managers and administrators, designed, built and operated by lumio labs.

coinberg.co ↗

// the challenge

Crypto fund operations had no Bloomberg back then. And positions still live across dozens of exchanges, chains and custodians, each with its own API, its own idea of a transaction, and its own downtime.

// the outcome

In production since 2018. Runs daily for award-winning fund managers, and used by APEX and Trident for independent reconciliation.

The problem

What wasn't working.

[ 01 / 06 ]

Crypto has no closing bell. No trading hours, no settlement calendar, no end of day — the market simply continues, through weekends, through holidays, through the moment your administrator needs a number. Every convention equity funds inherit for free has to be invented, written down, and then defended to an auditor.

So fund managers were reconciling by spreadsheet. Balances pulled by hand, exposure known as of yesterday — and "yesterday" itself an argument, because each venue drew the line somewhere different. For a fund running algorithmic strategies across a dozen exchanges, several chains and custodians, that is not a risk position. It's an anecdote.

Administrators had the mirror problem: no standardised export, no audit trail, no way to verify a manager's numbers without asking the manager.

Success looked like a number a fund director would sign, produced identically every cycle, and an exposure figure a trader could act on inside five minutes.

Approach

What we did.

[ 02 / 06 ]
define the day, then defend it
Reporting periods, cutoffs and valuation timestamps are explicit, configurable and consistent across every venue and every report. Once a boundary is chosen, nothing in the system is allowed to disagree about where it falls.
reconcile first, report second
Nothing gets published that hasn't survived reconciliation against every transfer, fee, PNL, proceed, reward and airdrop. A fast wrong number is worse than a slow right one.
every venue is unreliable, plan for it
50+ integrations means 50+ failure modes. Missing data is a first-class alert, not a silent gap.
configurable to the fund, not to the average fund
Fee structures, settlement periods, sub-portfolios and exposure limits are configuration, not code.
engineered for HFT volume from the start
100,000 transactions an hour, millions a day. The ingestion path was built for the busy days.
// where AI helped
Integration scaffolding against new venue APIs, changelog monitoring across exchange endpoints, test-fixture generation. Reconciliation logic and NAV rules stayed engineer-led and human-reviewed.

What we built

Four components.

[ 03 / 06 ]
01 · ingestion
Ingestion & normalisation

50+ connectors across exchanges, chains, custodians and price sources, plus manual feeds for bank and technical accounts. One transaction model out the other end.

python · connexion · postgresql
02 · nav-engine
Reconciliation & NAV engine

Reconciliation of balances and positions against the fund's defined daily boundary. NAV with operating expenses, management and performance fees, adjustable settlement periods, benchmark records.

python · node · postgresql
03 · exposure
Exposure & limits

Gross and net crypto and stablecoin exposure by account, instrument, chain or sub-portfolio, refreshed every five minutes. Ex-ante pre-trade limit verification with monthly reports.

python · postgresql · node
04 · reporting
Reporting & alerts

One-click historical exports in administrator-ready format. Proactive alerts on open orders, unauthenticated transfers, missing data and fund-defined conditions.

javascript · react · flask · aws · docker

Outcomes

What it shipped as.

[ 04 / 06 ]
2018

In production since. Continuously developed, never re-platformed.

100k+

Transactions ingested per hour. Millions a day at peak.

50+

Exchanges, blockchains and custodians integrated.

5 min

Exposure refresh interval, gross and net, across every account.

// used by APEX and Trident for independent reconciliation
// operated for Decent Investments Malta, crypto fund managers recognised with JF Wealth awards

The team

Who shipped it.

Team of six. One finance and investments professional, two senior and three medior engineers — backend and database lead, frontend lead, DevOps.

engagement: own product · continuous development since 2018

Get in touch

Running a fund across more venues than your spreadsheet can hold?

We like the hard ones. Let's talk.

Book a scoping call See all FinTech & AI → Visit coinberg.co ↗