Both Blockpit, that is also leading developer of RegTech solutions for digital assets, and CryptoTax provide legally compliant proofs of origin, which can be used to calculate and report taxable profits from trading with crypto currencies and digital assets. With this cross-border acquisition, Blockpit wants to profit from economies of scope and ensure its international competitiveness.
“The medium-term goal is to combine both companies to a renowned global player as well as an intensive expansion into the US market”, adds Klaus Himmer, Co-founder and Managing Director of CryptoTax.
To meet these expansion plans, the teams of both Blockpit and CryptoTax will remain in place in Linz and Munich respectively. The merger will not change anything for existing customers of both companies for the time being. Previous functions and price models will remain the same and the transition to a common platform should take place smoothly in the background. Over the next few months, the CryptoTax frontend will be redesigned and adapted to the blockpit interface, and new functions will be added as well.