Teams with ‘Silver Cost Basis’ to Deliver Enhanced User Functionality
and Real-Time Gain/Loss Analysis, Taxable Income on Trades
Voyager Digital Holdings Inc. (” Voyager “),
a new and licensed commission-free crypto asset brokerage, today
announced that it has teamed with Silver Cost Basis (” Silver “),
a leading provider of business and technology solutions for the
investment services industry, to provide cryptocurrency cost basis tax
analysis and processing for Voyager customers.
Delivering on its goal to bring a customer-first, transparent crypto
trading platform to the market, Voyager will further enhance the user
experience by providing real-time realized and unrealized gain/loss
analysis and fully compliant investor tax information, through its
integration with Silver’s cryptocurrency cost basis processing solution.
Steve Ehrlich, Voyager CEO said: “Voyager was developed to provide a
single access point for investors to efficiently and securely manage all
their crypto assets in one place. Silver’s cost basis and tax analysis
tools add an important layer to our differentiated solutions and
underscore our commitment to provide customers with the ability to trade
crypto assets in a stable, safe and cost-efficient environment with the
same confidence that they have come to expect from more established
markets.” Ehrlich added that this integration builds on Voyager’s
existing offerings, which include delivering best execution via smart
order routing technology, wallet, self-custody, as well as access to
pertinent news and alerts, social feeds, research and customer service.
For more than a decade, Silver has been recognized as an
industry-leading regulatory securities cost basis solution. Building on
its legacy of compliance and innovation, Silver has emerged as the
leader in the cryptocurrency cost basis space. Silver processes all
types of cryptocurrency activity including coin/fiat and coin/coin
trades in any coin and any fiat, payments in coin, airdrops and other
income events, and hard forks and token exchanges. The system applies
regulatory treatment for the many aspects of cryptocurrency activity
that fall under established taxation rules and offers per-account,
per-event choice for the aspects where the rules remain uncertain.
“By leveraging our production-proven securities cost basis capabilities,
we are uniquely positioned to offer a scalable cryptocurrency cost basis
processing,” said Neal Ruskin, Silver’s Managing Partner responsible for
product strategy. “We address the significant recordkeeping burden
taxpayers face today as well as the inevitable information reporting
requirements to be imposed moving forward.
Our solution will provide
year-end statements that investors can use to prepare their returns and
will transition to regulatory reporting as soon as required.”
Voyager previously announced that its retail mobile trading app is expected
to launch in Q4 2018 with its Silver Cost Basis integration expected
in early 2019.
About Voyager Digital
Voyager Digital Holdings Inc. (Voyager) through its subsidiary,
CryptoTrading Technologies, LLC is a crypto-asset broker that provides
retail and institutional investors with a turnkey solution to trade
crypto assets.
Voyager offers investors best execution, data and custody
services through its institutional-grade open architecture platform.
Voyager was founded by established Wall Street and Silicon Valley
entrepreneurs who teamed to bring a better, more transparent and cost
efficient alternative for trading crypto-assets to the marketplace.
Voyager is based in New York and is registered with FinCen. https://www.businesswire.com/news/home/20181016005166/en/.
