Bitwave Acquires Gilded to Strengthen Enterprise Solutions in the Crypto Industry
Bitwave acquires Gilded, a payments and accounting platform, to enhance its enterprise solutions in the crypto industry. The acquisition aims to improve Bitwave's crypto payments, invoicing features, tax tracking, and bookkeeping tools.
Posted 10 months ago in Blockchain
Bitwave, a leading crypto firm, has announced the acquisition of Gilded, a payments and accounting platform, to enhance its enterprise solutions. The deal aims to improve Bitwave's crypto payments, invoicing features, tax tracking, and bookkeeping tools. Ken Gaulter, the chief technology officer of Gilded, will join Bitwave's engineering team as part of the integration. This acquisition comes in the wake of Bitwave's recent acquisition of Multisig Media.
According to Pat White, Bitwave's co-founder and CEO, digital asset payments are expected to revolutionize businesses by providing faster and more cost-effective payment rails. The financial details of the acquisition were not disclosed. Gilded, founded in 2018, assists companies in integrating crypto solutions into their financial reporting and accounting processes. The company serves over 130 enterprise customers, including crypto startups, nonfungible token marketplaces, decentralized autonomous organizations, and accounting firms.
Bitwave, established in 2018, offers crypto accounting and compliance services. In December 2022, the company raised $15 million in a Series A funding round to expand its crypto solutions and meet the complex accounting requirements of enterprises. Bitwave also recently partnered with Deloitte, a Big Four accounting firm, to provide enterprise tools that integrate blockchain data with enterprise resource planning systems.
White stated, 'We believe that crypto payments are the future. Financial institutions are starting to recognize the massive opportunity offered by this technology, with instant settlement and incredibly low fees.'
The acquisition follows the unveiling of new rules for digital assets accounting by U.S. regulators. The U.S. Financial Accounting Standards Board approved guidelines on reporting the fair value of cryptocurrencies on balance sheets. With clearer rules, regulators are expected to closely monitor digital asset dealings. The acquisition of Gilded strengthens Bitwave's position in the crypto industry, as it continues to expand its enterprise solutions.
Last updated 9/14/2023, 8:44:40 PM
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