Verady, a crypto tax provider, announced a partnership with Algorand (ALGO) to offer ALGO token holders Integrated Accounting services.
Verady also revealed that its technology is being used by Algorand and Blockchain.com for their internal accounting and auditing.
Verady Integrates ALGO into Tax Platform
Kell Canty, co-founder and chief executive of Verady, said the new partnerships were the product of several months of intercompany discussions.
Verady has seen ALGO integrated into its software through the agreement with Algorand. Canty indicated that “ALGO Holders will be able to associate multiple wallets with their Ledgible account in an easy to use and intuitive way”.
“We’re excited to partner with Verady to not only account for our own assets, but to provide Ledgible Accounting to our partners who are helping to develop and grow the Algorand blockchain,” stated Algorand’s chief operating officer, Sean Ford.
A spokesperson for Blockchain.com stated:
“As one of the oldest crypto companies and one of the largest crypto exchanges — with more than 48 million wallets in 140 countries with over 100 million transactions to date — our accounting needs are immense.”
Canty claimed that Ledgible offers significant benefits to crypto investors, including “integrations and partnerships with existing general ledger software such as Xero, Intuit Quickbooks, and NetSuite,” and capabilities for “multi-account and user permission”.
Canty underlined the need for robust tax and accounting solutions to attract widespread adoption of cryptoassets, stating:
“Verady is determined to help move the cryptocurrency industry forward with advanced, secure, and intuitive reporting tools. In a rapidly changing economic landscape, we’re glad to work alongside leaders in the industry to make crypto more accessible.”
Binance Offers Staking Rewards to Algorand, COSMOS Users
Cryptolydian reported earlier that, Binance US, a global cryptocurrency exchange, has announced that it will offer staking rewards to users of cryptocurrency platforms Algorand and COSMOS in February.