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Nephos Group

UK and UAE crypto accounting, fund administration, and stablecoin attestation specialists

London, UKEst. 2014 (Myna crypto arm launched 2021)20–50 professionals across UK, UAE, and South Africa
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Quick Facts

Best For
Crypto founders, stablecoin issuers, and crypto funds in the UK or UAE needing specialist digital asset accounting, fund administration, or HMRC-compliant tax advice
Pricing
Not publicly disclosed — contact for scoping

Overview

Nephos Group is a digital asset accounting and advisory firm founded in 2014 by Joe David, with a specialist crypto arm — Myna — launched in 2021. Operating across the UK, UAE, and South Africa, Nephos provides integrated accounting, tax structuring, and corporate advisory services to founders, investors, and internationally mobile entrepreneurs with crypto and digital asset exposure. The firm is particularly known for its crypto fund administration capabilities, stablecoin proof-of-reserves attestations for stablecoin issuers, and its active engagement with HMRC on UK crypto tax policy — including a formal response to the HMRC consultation on stablecoin taxation. Through its KYAX partnership, Nephos also offers KYA™ (Know Your Assets and Liabilities), a financial reporting solution that puts off-chain governance and liability data on-chain. A rare firm that combines traditional accountancy rigour with deep crypto-native expertise.

Focus Areas

Crypto Accounting & BookkeepingCrypto Fund AdministrationStablecoin Proof of Reserves & AttestationsCrypto Tax (UK HMRC Compliance)Fractional CFO ServicesForensic Crypto AccountingDigital Asset Compliance & GovernanceCrypto Structuring for Internationally Mobile Clients

Who They Work With

Crypto Founders & EntrepreneursStablecoin IssuersCrypto FundsHNW Individuals with Crypto PortfoliosFamily Offices with Digital Asset ExposureBlockchain Projects needing CFO supportDeFi Protocols

Notable Work

Crypto fund administration for multiple institutional clients; stablecoin proof-of-reserves attestation services; HMRC consultation response on UK stablecoin tax reform; KYAX partnership delivering on-chain financial reporting (KYA™).

Key Contacts

Joe David

Office Locations

Dubai, UAESouth Africa

Frequently Asked Questions about Nephos Group

What makes Nephos Group different from a general accountancy firm for crypto work?
Nephos Group was purpose-built for digital assets from the outset — the firm was founded in 2014 with crypto literacy as a core competency, and its specialist Myna arm (launched 2021) handles the most technically complex crypto accounting mandates. Unlike general accountants who have added crypto as an afterthought, Nephos has submitted formal responses to HMRC on stablecoin tax policy and built a dedicated proof-of-reserves attestation service for stablecoin issuers — a capability that very few accountancy firms globally can offer.
Does Nephos Group provide stablecoin proof-of-reserves attestations?
Yes — Nephos delivers attestation services specifically designed for stablecoin issuers, providing independent monthly verification that total token supply is backed 1:1 by reserve assets held in custody. The service blends traditional financial audit rigour with blockchain-native transparency, and is one of the few such offerings available from a UK-regulated accountancy firm. This is relevant for stablecoin issuers needing to demonstrate regulatory compliance or investor trust.
Can Nephos handle crypto fund administration?
Yes — crypto fund administration is one of Nephos's specialist service lines, and the firm has taken on the fund administrator role for several crypto clients. This is a relatively rare offering: most traditional fund administrators lack the technical infrastructure and knowledge to handle on-chain assets, staking positions, DeFi protocol exposure, and real-time NAV calculations for crypto-native portfolios. Nephos's combination of digital asset expertise and accounting rigour positions it well for this mandate.
Does Nephos Group work with UK-based crypto businesses on HMRC compliance?
Yes — UK HMRC crypto tax compliance is a core focus for Nephos, and the firm has been actively engaged in UK crypto tax policy, including submitting a formal response to HMRC's consultation on stablecoin taxation. The firm advocates for stablecoins used as operational payment instruments to be taxed as such rather than as speculative assets — a distinction with significant practical implications for crypto businesses using stablecoins for treasury management and supplier payments.
Does Nephos operate in the UAE and Dubai?
Yes — Nephos Group has an active UAE presence and Joe David is known for launching the first crypto accounting firm in Dubai. The firm serves clients across the UK, UAE, and South Africa, making it well-suited for internationally mobile entrepreneurs and crypto businesses operating across both UK and UAE jurisdictions — a common structure for founders managing UK and MENA operations simultaneously.
What is the Myna arm of Nephos Group?
Myna is Nephos's specialist crypto accountancy brand, launched in 2021 to serve blockchain projects and digital asset institutions with more complex requirements — including outsourced and fractional CFO services, forensic crypto accounting, and crypto compliance and bookkeeping. While Nephos Group serves the broader accounting and tax advisory mandate, Myna is the crypto-native delivery vehicle for clients who need deep technical accounting expertise in DeFi, NFTs, staking, and token treasury management.

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