Turnhouse Consulting: Valuation and Risk Methodology for Digital Assets

Turnhouse Consulting applies established XVA discipline to digital assets: stablecoin holdings, tokenized deposits, staked and wrapped assets. The practice is built on more than 30 years in finance and treasury, including treasury technology engagements at EY and treasury systems consulting at ION. Its current focus is Crypto XVA, a valuation-adjustment framework for digital-asset exposures, published as a working paper on SSRN with a public research library at research.crypto-xva.app.

Areas of Expertise

  • Crypto XVA: valuation adjustments for digital-asset exposures

  • Stablecoins, tokenized deposits, staked and wrapped assets

  • Fair value measurement under ASC 820 and IFRS 13

  • Level 3 disclosures: rollforwards, unobservable inputs, sensitivities

  • Model governance and prudent-valuation documentation

  • Treasury operations and cash management

  • Treasury technology selection and implementation

  • AI-assisted research and documentation workflows

Recent Projects

Crypto XVA: A Valuation-Adjustment Framework for Digital Assets

Description:

Turnhouse developed Crypto XVA, a valuation-adjustment framework for digital-asset exposures: stablecoin holdings, tokenized deposits, staked and wrapped assets. The framework maps each instrument, regulatory regime, and jurisdiction to the valuation surfaces it touches. The methodology is published as a working paper on SSRN, archived at Zenodo, with a public research library at research.crypto-xva.app.

Key highlights:

  • Working paper on SSRN with durable archival at Zenodo

  • Fair value measurement support under ASC 820 and IFRS 13, including supportable Level 3 disclosures

  • Documentation aligned to supervisory expectations for model risk and operational resilience

Earlier engagements include growth strategy and infrastructure for a startup film festival and financial modelling for a multi-site automotive group.

"At Turnhouse Consulting, our philosophy isn't confined to a single blueprint. Instead, we emphasize the importance of project success and team cohesion. We collaborate with stakeholders to craft a tailored approach that aligns with the organization's unique needs and overarching ambitions. Continual reflection and adaptation are central to our ethos, ensuring that our methods always resonate with the evolving demands of our projects and clients."

Project Management Philosophy