TaxBit has secured a strategic investment from IQT a strategic investor for the U.S. national security community and America’s allies.
The company raised an undisclosed amount from IQT, reflecting the growing demand for expanded use cases and digital asset compliance solutions on a global scale.
TaxBit specializes in providing tax and accounting compliance solutions for the digital asset industry. This strategic investment from IQT will further accelerate the development and deployment of TaxBit’s commercial and government accounting solutions and digital asset technologies.
These solutions include functionalities such as tax filing, audit, asset seizure, and financial reporting. Additionally, TaxBit aims to introduce new critical features like GAAP and FASB reporting in the United States and IFRS support for international customers, setting a global standard for accounting compliance.
Lindsey Argalas, CEO of TaxBit, expressed enthusiasm about the investment, stating, “This is an exciting milestone for TaxBit and a testament to our credibility as a trusted partner across the digital asset space. This investment from IQT further underscores the incredible technology and expertise our team has built for the digital asset industry. Everything we do aims to secure regulatory trust while enabling compliant digital asset innovation for the global economy.”
Rita Waite, Principal, Investments at IQT, highlighted the emerging need from the public sector and enterprises to comply with using crypto and digital assets. Waite praised TaxBit’s solutions and team for their industry and technical position, emphasizing their ability to assist both the public and private sectors as they navigate this burgeoning market.
TaxBit intends to utilize the new funding to expand its global footprint and enhance its suite of compliance solutions, catering to the evolving needs of the digital asset industry.
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