Bitwave Bolsters Enterprise Solutions with Acquisition of Gilded, a Payments and Accounting Platform
Summary:
Bitwave acquires Gilded, a payments and accounting platform, to enhance its enterprise solutions for crypto payments and invoicing. The integration includes tax tracking and bookkeeping tools. The acquisition strengthens Bitwave's position in the industry, following its previous purchase of Multisig Media. Financial details of the deal were not disclosed. Gilded, founded in 2018, helps companies integrate crypto solutions into their financial reporting processes. The acquisition comes amid new regulations for digital assets accounting in the U.S.
Bitwave, a crypto firm, has acquired payments and accounting platform, Gilded, in a move to strengthen its enterprise solutions. The acquisition is set to enhance Bitwave's offerings, including crypto payments, invoicing, tax tracking, and bookkeeping tools. As part of the integration, Ken Gaulter, the CTO of Gilded, will be joining Bitwave's engineering team. This acquisition follows Bitwave's previous purchase of Multisig Media. The companies did not disclose the financial details of the deal. Gilded, founded in 2018, helps companies integrate crypto solutions into their financial reporting and accounting processes. Its client base will now have access to Bitwave's platform while continuing to use Gilded's existing products. Bitwave, also established in 2018, offers crypto accounting and compliance services. The company recently secured a $15 million Series A funding round to expand its crypto solutions and partnered with Deloitte to provide enterprise tools. Bitwave's co-founder and CEO, Pat White, believes that digital asset payments will revolutionize businesses by being faster and more cost-effective than traditional payment rails. Their acquisition of Gilded comes at a time when U.S. regulators have introduced new rules for digital assets accounting, providing more clarity on the tax and accounting aspects of cryptocurrencies. With transparent rules in place, regulatory bodies are likely to increase their supervision of digital asset transactions.
Published At
9/14/2023 5:30:00 PM
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