PayPal invests in Taxbit crypto tax automation software

Taxbit which offers cryptocurrency tax automation software targeted for crypto users, exchanges, and merchants has received new investments from PayPal Ventures, Coinbase Ventures, and existing investor, Winklevoss Capital. These new investments from major fintech companies reinforce the importance of tailored software solutions, like TaxBit, in driving widespread cryptocurrency adoption. TaxBit solutions automate all aspects of cryptocurrency tax compliance for consumers, businesses, and exchanges.  Taxbit Enterprise and Taxbit Consumer continue to transform the cumbersome experience of calculating and reporting taxes on cryptocurrency transactions.

"We want to thank our customers, partners, and investors for helping us move the cryptocurrency space forward, " said Austin Woodward, CEO and Founder of TaxBit and Certified Public Accountant. "This investment will help us achieve our aim of being the most innovative and trustworthy provider of cryptocurrency tax technology."