Blockchain
Ledgible Closes $20M Series A Round with Key Institutional and Strategic Investors
Ledgible, the leading professional-first crypto tax and accounting platform, announced $20 million in funding for its Series A Round led by EJF Capital LLC (“EJF”) through its affiliate, the EJF Silvergate Ventures Fund.
Joining the round are JAM FINTOP, Thomson Reuters Ventures, TTV Capital, Fenbushi US, Commerce Ventures, Nathan McCauley, and Perkins Coie. Ledgible now stands at the forefront of the professional-focused crypto tax & accounting industry. This investment will be used to expand Ledgible’s product offerings as well as significantly grow its teams to meet the growing demand for its offerings.
“For any individuals, institutions, or enterprises that hold or deal with crypto assets, the ability to properly account for them and realize the appropriate gain and loss for tax and accounting purposes is essential,” said Kell Canty, CEO of Ledgible. “At Ledgible, we provide the platform to bridge the gap between digital assets and traditional finance.”
The investment will be used to expand the teams within their two core lines – Professional Tax and Enterprise Accounting, including further expansion to support their growing number of institutional partners and accounting firms.
“We see crypto as both a transformative application of novel technology and the next large investible asset class. Individuals and institutional investors need to be able to integrate and account for this investment and report that to the IRS and certain other regulatory agencies, where applicable,” said Jonathan Bresler, Managing Director at EJF. “We invested in Ledgible because we see them as the preferred solution to account for digital assets on the blockchain.”
This investment also marks a significant milestone in the professional tax space, underscoring the need for and importance of cryptocurrency support in the industry.
“As leaders in tax and accounting technology, Thomson Reuters has direct insight into the complexity our customers face as crypto continues to grow as an asset class. Ledgible is the leading crypto tax software for professionals and our investment reflects Thomson Reuters Ventures’ commitment to serve our customers through investments in emerging technology,” said Tamara Steffens, Managing Director, Thomson Reuters Ventures.
The Ledgible Crypto Tax & Accounting Platform supports integrations across major blockchains, cryptocurrency exchanges, wallets, and professional accounting tools. As the bridge between cryptoassets and traditional financial accounting, Ledgible determines crypto tax liabilities and delivers that data to all professional tax filing systems as well as general ledger accounting systems. The platform features client management, collaboration driven workflow, team management, and is in use by tax and accounting professionals around the world.
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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