According to Cointelegraph, Bitwave has acquired crypto payments and accounting platform Gilded. The acquisition aims to enhance Bitwave's enterprise solutions, including crypto payments and invoicing features, as well as tools for tax tracking and bookkeeping. Ken Gaulter, Gilded's chief technology officer, will join Bitwave's engineering team as part of the deal.
Gilded, founded in 2018, has over 130 enterprise customers across crypto startups, nonfungible tokens (NFTs) marketplaces, decentralized autonomous organizations (DAOs), miners, and accounting firms. Bitwave, also founded in 2018, offers crypto accounting and compliance services. The company closed a $15 million Series A in December 2022 to expand its crypto solutions to meet complex accounting requirements for enterprises. Bitwave recently announced a partnership with big four accounting firm Deloitte to offer enterprise tools, such as connecting blockchain data to ERP systems.
The acquisition comes shortly after the U.S. Financial Accounting Standards Board (FASB) approved guidelines on how companies can report the fair value of their cryptocurrencies on balance sheets. Bitwave CEO Pat White said that recent developments have provided more clarity on the tax and accounting side of digital assets, and with more transparent rules, regulators are expected to monitor digital asset dealings more closely.