Bitwave is excited to announce our Series A led by Hack VC and Blockchain Capital – alongside SignalFire, Valor Equity Partners, Arca, Hutt Capital, Pulsar Trading, and Alumni Ventures Blockchain Fund. The funding will fuel the next stage of growth for Bitwave.
This round follows remarkable market traction with leading digital asset native and Fortune 500 customers such as OpenSea, Compound, and Polygon. One of our new investors, Ed Roman, Managing Partner of Hack VC, commented on our traction saying, “We evaluated the ecosystem of institutional-grade solutions, and determined that Bitwave was by far the market leader. We selected them to be the vendor we use for our own digital asset accounting software. Bitwave’s best-in-class solutions, strong leadership, and impressive growth made this investment a no-brainer for us. We look forward to working with Pat, Amy, and their team to help Bitwave achieve its full potential.”
You can read more about our Series A in our latest press release.
This exciting announcement also comes at a time when the digital asset industry is at an inflection point, facing more public scrutiny than ever before. That's why the Bitwave team remains focused on enabling digital assets for enterprises. That’s why we are excited to not only announce our funding, but also launch our latest product, Bitwave Institutional, an accounting and compliance platform for Financial Services firms using digital assets.
Bitwave Institutional builds upon our core accounting, tax, bookkeeping, and invoicing product, but adds additional features such as segregated balance sheet tracking, internal and external system reconciliations, and proof of liability and reserve publishing.
Financial institutions need a solution that will give them a complete, accurate, and timely understanding of their financial position. Our new product, Bitwave Institutional, does just that.. It solves the complex process, audit, accounting, tax, and reporting needs of sophisticated financial organizations that custody, trade, and use digital assets.
When asked about Bitwave, Wayne Hu, Venture Partner at SignalFire, said, “Bitwave has already achieved exceptional results, with a top-tier client roster, market-leading technology and a talent for execution. We believe that their growth is just beginning, and they are poised to serve a rapidly expanding universe of custodians, financial services firms, enterprises, and more.”
Bitwave Institutional is targeted to custodians, exchanges, financial institutions, wealth managers, and other organizations exposed to the enormous risk, regulatory, and control complexities around holding, managing, and investing users’ digital assets.
What Doesn’t Work
What Actually Works
1. Process & Controls
2. Technology
3. Organization and Team Structure
Bitwave Institutional is a set of processes, controls, and technology designed to bring trust into the new digital asset financial system. It holistically addresses the complex process, audit, accounting, tax, and reporting needs of financial organizations and enterprises.
Key features include:
Contact us today to learn more or schedule a demo.