Voyager Partners with Silver Cost Basis to Provide a Real-Time Crypto Tax Analysis
The world of crypto services is fast growing as more investors look for safe havens to store or transact their digital assets. Voyager Digital Holdings is among the new digital currency brokers whose operations have been licensed hence creating a legally safe environment for coin holders.
The firm recently announced a partnership with Silver Cost Basis to improve its tax analysis segment for its clients. Silver Cost Basis is popular for their tech & business services to the financial market players.
This milestone will enable Voyager to provide detailed real-time tax information to its clients. In doing so, the digital coin broker will keep their platform users updated on their unrealized profits or losses by leveraging Silver’s analytical tools.
Voyager CEO, Steve Ehrlich, said that the move was indeed fundamental to the crypto service provider;
“Voyager was developed to provide a single access point for investors to efficiently and securely manage all their crypto assets in one place. Silver’s cost basis and tax analysis tools add an important layer to our differentiated solutions and underscore our commitment to provide customers with the ability to trade crypto assets in a stable, safe and cost-efficient environment with the same confidence that they have come to expect from more established markets.”
Ehrlich went on to further state that the new collaboration with Silver Cost basis will add to the existing platform features. Voyager’s crypto services include secure digital currency wallets, efficiency in transactions and provision of information about the blockchain & crypto space.
Silver’s expertise in calculation of regulation related taxes has earned the company a table within the investments arena in the past decade. Gradually, the firm has ventured in the newly discovered crypto markets where it aims to scale its services to guide companies on innovation & compliance. As it stands, Silver Cost Basis can process all crypto related transactions including hard forks & airdrops. The regulatory-oriented firm applies the compliance requirements including the ones within crypto to offer the clients a comprehensive outlook about the taxes involved.
A managing partner in Silver’s Product Strategy division by the name Neal Ruskin emphasized on the firm’s fundamental value;
“By leveraging our production-proven securities cost basis capabilities, we are uniquely positioned to offer a scalable cryptocurrency cost basis processing. We address the significant recordkeeping burden taxpayers face today as well as the inevitable information reporting requirements to be imposed moving forward.”
According to Voyager, the integration with Silver’s Cost basis services is scheduled for Q1 of 2019 although the firm will be releasing a trading app for its users in the course of 2018.