In a candid conversation with Subscript's CEO, Bitwave's Co-Founder and COO breaks down what CFOs need to know about digital assets, enterprise crypto use cases, and why stablecoins are just getting started.
When Amy Kalnoki co-founded Bitwave in 2018, digital assets were still on the fringe of enterprise finance.
Today, she sits at the helm of Bitwave, a company building the infrastructure that helps businesses embrace blockchain-based finance without the chaos.
In a recent appearance on Diving Deep with Subscript, Amy spoke with Subscript CEO Sidharth Kakkar about the journey from bootstrapping to Series A, the misconceptions finance leaders still hold about crypto, and what forward-thinking CFOs need to understand to stay ahead.
Here are the highlights from that conversation, along with insights into how Bitwave is redefining digital asset accounting for the enterprise.
Built for Enterprises from Day One
When Bitwave launched, Amy and her co-founder Pat White had deep conviction that digital assets would eventually go enterprise. But in 2018, the B2B market simply wasn’t mature enough.
"We bootstrapped early on because the TAM [Total Addressable Market] just wasn’t there yet for enterprise crypto," Amy explained. "We knew it would be eventually, so we focused on product and building a solid foundation."
That bet paid off.
By 2021, digital assets had evolved beyond retail speculation, with real infrastructure, use cases, and enterprise adoption taking hold. Bitwave's Series A followed in 2022, powered by investors who understood the need for an enterprise-grade solution tailored to crypto complexity.
CFOs, It’s Time to Rethink Risk
One of the biggest misconceptions Amy still encounters is that “digital assets are only used for crime,"
Her response?
"If you think digital assets are risky, let me tell you about this thing called cash."
She urges CFOs to think of crypto like any other financial tool.
"Stablecoins are just programmable money. Blockchain is simply a distributed ledger," Amy explained. "The same controls you use for fiat — invoice approvals, vendor verification, penny tests — can be applied to digital assets."
Bitwave’s platform brings this structure to enterprise crypto, offering AR/AP tools, wallet tracking, and tax compliance workflows that slot seamlessly into existing systems.
It helps finance teams create a schema for wallet ownership, access control, and transaction tracking. Amy calls it "wallet hygiene," and it’s crucial for making crypto manageable at scale.
"It’s shockingly easy for digital wallets to proliferate inside a company," Amy noted. “Developers spin them up for testing. Payments happen. People leave. We’ve seen companies discover wallets years later with real value sitting in them."
From Spreadsheets to Subledgers
Before Bitwave, most businesses handling crypto did so with giant spreadsheets and manual workflows. That doesn’t cut it anymore.
"Crypto accounting is like combining inventory tracking with foreign exchange — and it fluctuates in real time," Amy explained.
Bitwave serves as a subledger purpose-built for digital assets, allowing companies to keep their crypto books auditable and synced with their ERP, while still denominating financials in USD.
Bitwave was designed from day one with enterprises in mind. From security protocols to modular architecture, it supports everyone from crypto-native startups to Fortune 500s experimenting with NFTs, staking, or DeFi.
"We’re a platform, not just a product," Amy said. "It’s a choose-your-own-adventure. Whether you need help managing revenue from NFTs or just want to use stablecoins for AP, Bitwave can handle it."
The Killer Use Case: Stablecoin Payments
What use case is driving traditional enterprises into crypto today? Stablecoin payments.
From international remittances to vendor payouts, businesses are discovering how much they can save.
"Cross-border wires can cost 30% in fees. With stablecoins, you can send programmable money instantly and cheaply," Amy said. "It’s a game changer for anyone paying contractors or suppliers overseas."
Bitwave helps automate and control these flows, ensuring CFOs retain all the oversight they’re used to in fiat.
As for what’s on the horizon? Amy sees AI agents as a massive accelerant. In her view, we’re still early.
"Digital assets are the infrastructure that will enable automation, smart contracts, and intelligent payments. You’re not late to crypto. If you're getting started now, you’re right on time."
Ready to Watch the Full Interview?
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→ Read: Stablecoin B2B Payments
→ Read: Enterprise-Grade Subledger
Disclaimer: The information provided in this blog post is for general informational purposes only and should not be construed as tax, accounting, or financial advice. The content is not intended to address the specific needs of any individual or organization, and readers are encouraged to consult with a qualified tax, accounting, or financial professional before making any decisions based on the information provided. The author and the publisher of this blog post disclaim any liability, loss, or risk incurred as a consequence, directly or indirectly, of the use or application of any of the contents herein.
