Collaboration between Ledgible and BitGo has been announced, aiming to provide institutional crypto clients with comprehensive tax compliance solutions throughout the entirety of their crypto journey.
BitGo and Ledgible Partner to Offer Comprehensive Digital Asset Tax Solutions for Institutions
BitGo, a leading digital asset solutions provider, and Ledgible, a leading digital asset tax and accounting platform, have joined forces to offer institutional clients a streamlined end-to-end tax compliance service. This collaboration aims to address the growing need for tax compliance as institutional adoption of digital assets continues to rise [1][2].
The partnership brings together BitGo's secure custody and infrastructure solutions with Ledgible's advanced tax reporting capabilities. This union creates a more complete digital asset infrastructure that is secure, scalable, and ready for regulatory scrutiny [3].
Ledgible's solutions simplify the complexities of digital asset tax compliance for BitGo users. Clients can easily integrate tax workflows into their existing operations using Ledgible's integrations and API infrastructure. This partnership ensures visibility and compliance across the full digital asset lifecycle, whether clients are managing staking, trading, or custody [1].
Kell Canty, CEO of Ledgible, stated that tax compliance is a core component of the digital asset ecosystem. He emphasised that the partnership ensures institutions have a seamless path from secure custody to compliant tax reporting [1].
Chen Fang, CRO at BitGo, stated that the partnership equips BitGo's clients with integrated tax and accounting solutions that meet current compliance standards and scale with future innovation. He added that this collaboration reinforces BitGo's commitment to helping institutions navigate complex regulatory requirements without slowing down growth or operational agility [1].
The partnership will provide BitGo clients with full tax lifecycle support, including digital asset cost basis tracking, Form 1099 generation, and regulatory reporting. This enables seamless management of the full tax lifecycle for digital assets, empowering institutional crypto clients with integrated tax compliance tools and supporting compliance efforts with a focus on innovation and growth in the digital asset space [1][2][4].
In conclusion, the BitGo-Ledgible partnership is a significant step towards simplifying complex tax reporting processes for institutional crypto clients, ensuring they can efficiently navigate regulatory requirements while scaling their digital asset operations with confidence.
[1] Ledgible Press Release, 2022. Available at: www.ledgible.com/press-releases
[2] BitGo Press Release, 2022. Available at: www.bitgo.com/press-releases
[3] BitGo and Ledgible Partnership Announcement, 2022. Available at: www.bitgo.com/blog/bitgo-and-ledgible-partnership
[4] Ledgible Product Overview, 2022. Available at: www.ledgible.com/product
The collaboration between BitGo and Ledgible, as outlined in the BitGo Press Release of 2022, marries BitGo's secure custody and infrastructure solutions with Ledgible's advanced tax reporting capabilities, offering a comprehensive digital asset tax solution for institutions [2]. Furthermore, this partnership, as emphasized by Chen Fang, CRO at BitGo, equips BitGo's clients with integrated tax and accounting solutions that adhere to current compliance standards and adapt to future innovation, ensuring smooth navigation of regulatory requirements [1].
