CRYPTOCURRENCY TAX SOFTWARE PROVIDER, COINLEDGER, ADDS VOYAGER DIGITAL TO GROWING LIST OF STRATEGIC CORPORATE INVESTORS
Investment Builds Upon Recently Announced Partnership between the Leading Crypto and Tax Platforms; Reinforces Commitment to Streamlining and Simplifying Crypto Tax Reporting for its Users
AUSTIN, Texas, Feb. 2, 2022 /CNW/ - CoinLedger (rebranding from CryptoTrader.Tax), a leading tax reporting platform for cryptocurrency, DeFi, and NFT users, today announced a strategic investment from Voyager Digital Ltd. ("Voyager" or the "Company") (TSX: VOYG) (OTCQX: VYGVF) (FRA: UCD2) one of the fastest-growing, publicly-traded cryptocurrency platforms in the United States. Today's news comes on the heels of the recently announced partnership between the two companies, which will bring free tax tools to Voyager customers for the 2021 tax year.
"We are thrilled to announce Voyager Digital's investment in CoinLedger, which only reinforces the shared vision amongst the two companies," said David Kemmerer, CEO, and co-founder of CoinLedger. "What's most exciting is that our partnership with Voyager goes beyond this investment, which we plan to use for strategic growth as we continue to scale the team, product offerings, and more."
The interoperable nature of cryptocurrencies and digital assets, with transfers into and out of platforms such as Voyager, can create tax challenges for users, especially when it comes to tracking cost basis—which is necessary for capital gains tax reporting. CoinLedger, a leading tax-reporting platform for cryptocurrency, DeFi, and NFT users, addresses this by integrating directly with leading exchanges, wallets, and blockchains to allow any cryptocurrency user to track their digital-asset transaction history across the crypto-economy.
Voyager customers will be able to use the CoinLedger platform as early as the upcoming 2021 tax year to import their cryptocurrency transactions and get capital gains, losses, and income reports. These reports can be imported into tax filing software such as TurboTax or sent off to tax professionals to facilitate easier tax filing.
"Voyager Digital is excited to invest in CoinLedger to help, among other things, to bring tax filing support capablities to Voyager customers and also support the company's leadership team execute their long-term strategic vision," said Steve Ehrlich, CEO, and co-founder of Voyager. "We're also eager to officially roll out our partnership, making it much easier for our users to track and report their cryptocurrency taxes."
