February 11, 2022 - 3 min read
SupraOracles is excited to announce a partnership with Blockpit, a platform that provides cryptocurrency tax computation and portfolio management, as well as completely tax-compliant documentation of your crypto transactions. With software compliance solutions, Blockpit has been pursuing the objective of delivering the required transparency and confidence to a blockchain-based financial system.
Blockpit has been addressing the issue of compliance for digital currencies, such as Bitcoin. The company has created a software platform that integrates all digital currency sources.
Anti-money laundering requirements and diverse tax regulations make the crypto regulatory environment convoluted for users. In this complex system, Blockpit streamlines reporting processes for users and intermediaries alike. They not only service cryptocurrency consumers, but also tax advisors, banks, crypto exchanges, and other virtual asset service providers — with solutions for transaction analysis and tax reporting.
It is critical to completely document all transactions, including trading, mining, gifts, and so forth. This occurs simply and automatically using Blockpit. This allows users to effortlessly manage their cryptocurrency portfolios while adhering to ever-stricter regulations.
As a result of this partnership, Blockpit will use SupraOracles’ data stream for user tax calculations. This collaboration aids in the development of a cross-chain wallet that allows Blockpit users to view all of their funds and transactions in one place.
Blockpit provides its users with the appropriate crypto compliance solution. When it comes to crypto compliance, Blockpit has the ideal solution for all sizes, whether you’re a trader, an investor, or a business. With the appropriate solution, Blockpit makes tracking, monitoring, reporting, and risk assessment easier for both large and small participants in the crypto ecosystem.
Florian Wimmer, CEO of Blockpit, commented:
“We’re really happy to collaborate with SupraOracles to provide decentralized finance with reliable, real-time price data. One of the most important elements in constructing a healthy and well-functioning financial ecosystem is accurate and timely price data.”
Joshua D. Tobkin, CEO and Co-founder of SupraOracles, commented:
“Blockpit provides its users with the best crypto compliance solution, and we are glad to be a part of this effort. Our goal is to supply Blockpit with a wide range of oracle feeds, including pricing data.”
SupraOracles is a platform that connects traditional financial markets with web3. Our goal is to provide a robust cross-chain oracle to the developer community. SupraOracles combines real-world data to public and private blockchains, allowing for interoperable smart contracts to safeguard the future of financial markets. It also gives developers a set of tools for building, deploying, and sustaining data applications that are faster, more agile, and more robust.
In the rapidly rising cryptocurrency business, Blockpit is creating compliance solutions to address the complicated issues of accurate taxes and anti-money laundering. The grand objective is to bridge the gap between consumers and authorities on a worldwide scale by offering a readily accessible platform that will change and adapt to new legislation as it becomes available.
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