News
Bitwave Completes Integration with Stellar Blockchain, Enabling Seamless Accounting and Simplified Financial Reporting for Enterprises
Bitonda
The integration of Bitwave marks the fulfillment of the Stellar Development Foundation’s Activation Award grant requirements
stellar bitwave
SAN FRANCISCO, June 20, 2024 (GLOBE NEWSWIRE) — Bitwave, the leading corporate finance platform for digital assets, is excited to announce the successful completion of its integration with the Stellar blockchain. This milestone marks the fulfillment of Bitwave’s commitment as part of the Activation Award grant it received from the Stellar Development Foundation earlier this year.
With this integration, finance teams leveraging the Bitwave platform can now seamlessly account for Stellar’s on-chain activity with automated transaction categorization and comprehensive, audit-ready financial reporting. Bitwave has ensured that all Stellar token transactions are easily identifiable on the platform by adding the XLM token ticker symbol, providing users with quick and transparent access to information about their transactions.
Enterprise-grade controls and innovative workflows
With the development of a high-volume indexer, Bitwave’s industry-leading platform is uniquely positioned to provide true enterprise-grade controls for transaction data on the Stellar network. This integration enhances accounting and finance workflows for finance teams with a range of enterprise-level features, such as granular lot-by-lot cost tracking, high-volume transaction categorization, and simplified GAAP/IFRS-compliant reporting.
Bitwave’s SOC 1 (T2) and SOC 2 (T2) compliance ensures finance teams can confidently make faster, data-driven decisions. This integration further highlights Bitwave’s commitment to providing businesses with robust financial workflows for on-chain activity.
Supporting innovation in the stellar ecosystem
Bitwave is committed to supporting FinTech and Fortune 100 companies driving innovation within the Stellar ecosystem. This integration will significantly benefit projects exploring a variety of on-chain activities, such as tokenizing real-world assets or supporting cross-border remittances. By partnering with this active ecosystem and community, Bitwave continues to support the growth of the energy-efficient Stellar blockchain.
Amy Kalnoki, co-founder and COO of Bitwave, commented:
“Celebrating this collaboration with Stellar marks an exciting time for Bitwave and the broader digital asset landscape. This integration unlocks a new opportunity for efficiency, where finance teams can access faster insights and streamlined compliance. We are excited to Shaping the future of finance with Stellare.”
The story continues
Justin Rice, vice president of Ecosystem for the Stellar Development Foundation, commented:
“This collaboration with Bitwave improves the transparency of on-chain financial reporting, making it easier for startups and enterprises to innovate with confidence. Bitwave’s financial compliance and reporting tools offer our community a new level of efficiency for digital assets. We are excited to work together to foster an inclusive, accessible and forward-thinking financial ecosystem.”
By providing seamless accounting automation, streamlined compliance processes, and audit-ready financial reports, Bitwave is enabling the next wave of business money transfers on Stellar.
For more information and to stay up to date on Bitwave’s support for the Stellar ecosystem, visit bitwave.io OR fill out this form to stay in touch.
About BitWave
Bitwave is the #1 digital asset financing platform for businesses.
Bitwave automates accounting workflows, enables regulatory compliance, reduces tax complexity, simplifies payments, and unifies data with a modern, connected platform. From high-volume crypto accounting to corporate tax monitoring, audit-ready accounting and advanced DeFi monitoring – Bitwave offers the most complete and proven solution to mitigate the complexity of digital assets.
Companies of all sizes, from Fortune 100 titans to early-stage crypto-native projects, rely on Bitwave to help them achieve financial excellence. To find out more, visit bitwave.io.
About Stellar
Stellar is a decentralized, fast, scalable and uniquely sustainable network for financial products and services. It is both a currency transaction system and a digital asset issuance platform, designed to connect the world’s financial infrastructure. Financial institutions around the world issue assets and settle payments on the Stellar network, which has grown to more than 7 million accounts and processed more than 10 billion transactions. For more information visit stellar.org.
Contact
Kaleb Leija
marketing director
Bitonda
kaleb.leija@bitwave.io
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2bb3175c-79aa-4b75-a627-19e3d90f3560
