The busy world of cryptocurrencies and tokenized assets has no shortage of innovations. Recently, Ledgible, a prominent digital asset tax, accounting, and data platform, announced an innovative partnership with DigiShares, a white-label platform facilitating compliant issuance, investor management, and peer-to-peer trading of tokenized digital assets. This alliance promises to revolutionize tax compliance and accounting practices for businesses and institutions navigating the complexities of the digital asset ecosystem.
Streamlining Tax, Accounting, and Data Reporting
With the growing adoption of cryptocurrencies and tokenized assets, tax gain and loss accuracy and efficiency have become critical factors for participants in this dynamic landscape. Ledgible, known for its cutting-edge technology and SOC 1 & 2 Type 2 Certification, offers a comprehensive Digital Asset Tax and Accounting Platform.
This platform streamlines accounting operations, enabling businesses to manage digital asset data at scale. By integrating with DigiShares, Ledgible gains access to subscriber investment, trade, and distribution data, allowing for enhanced analysis and normalization of economic and ownership activity.
According to the press release of the parties involved, this collaborative approach promises increased accuracy and efficiency in tax preparation processes for businesses and their accounting professionals.
The Ledgible Platform
Ledgible serves as the bridge between the complex world of crypto assets and traditional financial accounting. The platform supports seamless integrations across major blockchains, crypto exchanges, wallets, and professional accounting tools. This integration is vital as it enables Ledgible to determine digital asset tax liabilities accurately.
Moreover, it delivers this critical data to existing and novel Traditional Finance (TradFi) accounting tools. This integration empowers businesses and institutions with the means to handle digital assets with the same confidence and precision as traditional financial assets.
The DigiShares Platform
DigiShares, known as a leading provider of white-label tokenization platforms, brings a powerful addition to the alliance. Its platform facilitates real-world asset investments through blockchain technology. By leveraging DigiShares’ open ecosystem and smart contracts, businesses can streamline payments, know-your-customer (KYC), e-signing, legal processes, investor management, and trading in tokenized assets like real estate.
Through this integration, DigiShares enables asset owners and fund managers to digitize and automate processes, reduce administrative costs, democratize asset ownership, and enhance liquidity via the built-in marketplace. This is set to unlock new advantages for clients in managing digital assets while ensuring compliance and efficiency in tax and accounting practices.
Track Record of Trust and Credibility
As major players in their respective sectors, both Ledgible and DigiShares boast an exceptional track record of trust and credibility through their over a decade of combined experience in the industry. Ledgible’s SOC 1 & 2 Type 2 Certification solidifies its position as the trusted provider for large banks, fintech providers, and digital asset and tokenization native companies. On the other hand, DigiShares’ reputation as a white-label platform for real-world assets exemplifies its commitment to secure and compliant solutions.
The partnership of these two distinguished platforms instills confidence in businesses, ensuring that their tax, accounting, and reporting requirements are handled with utmost reliability and professionalism.
Final Thoughts
The groundbreaking partnership between Ledgible and DigiShares marks a new era in tax and accounting practices for digital and crypto assets. By combining the cutting-edge technology of Ledgible’s Digital Asset Tax and Accounting Platform with DigiShares’ expertise in white-label tokenization platforms, businesses and institutions can now navigate the complexities of the digital asset ecosystem with increased accuracy, efficiency, and confidence.
In the world of crypto wherein disruptions are constant, this alliance promises to empower businesses, accounting professionals, and investors alike in revolutionizing the way they manage and account for their digital assets.