US-based crypto tax and accounting platform Ledgible has partnered with DigiShares to facilitate the tax, accounting, and reporting of digital assets. DigiShares is a white-label platform that supports compliant issuance, investor management, and peer-to-peer trading of tokenized digital assets.

Through this partnership, DigiShares offers data such as subscriber investment, trade, and distribution to the Ledgible platform. The platform then analyses and normalises economic and ownership activity to improve efficient CPA-led preparation of Forms 1065 and 1120, Schedule K-1, and other tax returns. In essence, the collaboration between the two entities aims to help issuers, investors, and their accountants in their efforts to obtain increased accuracy and efficiency in their tax preparation processes.

According to the official press release, Ledgible acts as a bridge between crypto assets and traditional financial accounting, as it determines digital asset tax liabilities and delivers that data to existing and novel TradFi accounting tools. Through this platform, digital asset data becomes more readable across the entire crypto vertical for institutions, enterprises, and large accounting firms. The Ledgible Digital Asset Tax and Accounting platform for tax and accounting professionals, enterprises, and institutions was designed to integrate across major cryptocurrency exchanges, blockchains, wallets, and professional accounting tools.

In the company press release, Ledgible officials talked about the growing adoption of crypto and tokenized assets, as well as the importance of tax gain and loss accuracy and efficiency in this new environment. Representatives from DigiShares described this new collaboration as an avenue for new possibilities for their clients in managing digital assets, as it will help them to remain compliant and confident in their tax and accounting practices. More information about Ledgible In June 2022, Ledgible received USD 20 million in funding for its Series A Round led by EJF Capital through its affiliate, the EJF Silvergate Ventures Fund.

At the time, the round was joined by JAM FINTOP, Thomson Reuters Ventures, TTV Capital, Fenbushi US, Commerce Ventures, Nathan McCauley, and Perkins Coie. This investment was used to expand Ledgible's product offerings as well as grow its teams to meet the growing demand for its products. The company aimed to expand within its two main lines, namely Professional Tax and Enterprise Accounting, while also investing in its expansion to support a growing number of institutional partners and accounting firms.

Ledgible’s platform includes client management, collaboration-driven workflow, and team management services, and it is used by tax and accounting professionals. .