The partnership signals a strategic move in the burgeoning field of digital and crypto assets.
The collaboration between these two technological powerhouses is aimed at increasing efficiency in the preparation of tax returns, including Forms 1065 and 1120, Schedule K-1, and others. By integrating DigiShares’ investment, trade, and distribution data into Ledgible’s platform, economic and ownership activity will be analyzed and normalized, thus enhancing the tax preparation process.
Ledgible, well-known as a SOC 1 & 2 Type 2 Certified platform, has been a prominent figure in the world of tax and accounting professionals, with far-reaching integrations across major blockchains, cryptocurrency exchanges, and professional accounting tools. The platform serves as a bridge between traditional financial accounting and the novel world of crypto assets, determining digital asset tax liabilities and delivering data to existing financial accounting tools.
DigiShares, on the other hand, stands as a digital asset gateway that assists companies in harnessing the power of blockchain technology. Through collaboration on various aspects, including payments, KYC, legal matters, and smart contracts, DigiShares seeks to democratize and fractionalize real-world asset investments.
“With the growing adoption of crypto and tokenized assets, tax gain and loss accuracy and efficiency in this new, complex environment is critical for each participant in the tokenized asset ecosystem,” Ledgible CEO Kell Canty stated. He expressed excitement about working with Digishares in the rapidly evolving tax compliance space.
DigiShares CEO Claus Skaaning shared similar sentiments, stating, “We are extremely positive about our partnership with Ledgible. This collaboration opens new possibilities for our clients in managing digital assets, enabling them to stay compliant and confident in their tax and accounting practices.”
Both Ledgible and DigiShares are set to leverage their combined strengths, promising to increase accuracy and efficiency for DigiShares issuers, investors, and accountants in their tax preparation processes. This partnership comes at a time when the adoption of crypto and tokenized assets continues to grow, demanding new solutions to complex issues.
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