Own, creator of pioneering investment technology, will become the first global blockchain provider to offer integrated certified tax solutions to its users, after entering into a strategic partnership with CryptoTax.
This alliance marks a key milestone in Own’s vision to enhance the end-to-end investment lifecycle, supporting companies with the tools they require to manage interactions and build strong investor relationships.
CryptoTax specialises in tax reporting solutions for users of blockchain assets, using a methodology approved by a Big Four Accounting Firm to ensure companies are compliant with the laws of their residence state.
By integrating CryptoTax technology into its FAST Platform, Own users will be able to eliminate the need for a tax advisor, reducing the cost of filing a tax return. Businesses will be provided with automatic tax reports relating to all their asset transactions, dramatically reducing the time and effort it takes to gather tax-related information.
Investors, meanwhile, will be able to use integrated CryptoTax technology to produce a tax statements for all their trades – including any specific data required for local tax reports. The software currently supports international jurisdictions including Germany, Switzerland and the USA.
Sascha Ragtschaa, CEO & Co-Founder of Own, says: “Most investment platforms are focused on issuance, but that’s only part of the story. We’re creating technology that supports businesses beyond raising capital, and compliance is a critical part of this success.
“Own is pleased to be partnering with CryptoTax to add another valuable feature to our FAST Platform. We want to build direct relationships between companies and investors, and by integrating tax return functionality, we can cut out another unnecessary middleman making the investment market unnecessarily complex.”
Klaus Himmer, CEO & Co-Founder of CryptoTax, adds: “As enthusiasts about new opportunities offered by the blockchain, we’re excited to be partnering with Own and integrating CryptoTax technology into its FAST Platform. Own is using the blockchain to give businesses greater autonomy over their company growth within a secure regulatory framework; adding tax return capabilities will make this offering even stronger.”
Own’s development team plans to implement CryptoTax APIs in the coming months.