Kryptoskatt, a leading provider of simplified global crypto tax compliance software, is pleased to announce strategic investments from Binance Labs and Gate Labs. These investments signal a strong vote of confidence in Kryptoskatt's innovative solutions and its mission to simplify crypto tax compliance for individuals, professionals, and enterprises worldwide.

As global crypto adoption continues to rise, the need for specialized taxation tools becomes increasingly evident. According to a 2022 Fidelity report, 58% of institutional investors globally have an active crypto footprint, while 82% of high-net-worth individuals have invested in crypto assets, underlining the growing interest in digital assets. Additionally, Crypto.com reports a remarkable 39% increase in global cryptocurrency owners, reaching 425 million by December 2022. Against this backdrop, the importance of compliance with evolving tax requirements, such as DAC8, CARF, MiCA, and others, cannot be overstated. The tax tool market holds immense potential driven by the growing demand for streamlined tax reporting and the increasing regulatory pressures.

Kryptoskatt, with its comprehensive suite of solutions including accounting, portfolio management, and tax reporting, is uniquely positioned to address the critical need for accurate and efficient tax reporting in the crypto ecosystem. Supporting over 2000+ DeFi protocols, 100+ exchanges and wallets, and 50+ blockchains, Kryptoskatt offers a one-stop-shop solution for all Web3 finance needs.

The investments from Binance Labs, a renowned incubator and supporter of blockchain projects, and Gate Labs further solidify Kryptoskatt's position in the industry. This comes after Kryptoskatt's selection in the Binance Labs Incubation Program in November 2022, which showcased their exceptional potential to transform the crypto tax compliance landscape.

"We are thrilled to have the support of Binance Labs and Gate Labs," said Sukesh Tedla, CEO of Kryptoskatt. "Their investments not only validate the value of our solutions but also enable us to further enhance our platform and expand our reach. With their expertise and backing, we are confident in our ability to simplify crypto tax compliance and drive the adoption of our platform globally."

"Kryptoskatt's commitment to simplifying crypto tax compliance with its user-friendly approach solves a pain point and removes manual compliance duties,” said Alex Odagiu, Investment Director at Binance Labs. "Through our investment, we aim to support Kryptoskatt in their mission and contribute to the growth and adoption of blockchain technology."

"GateLabs is proud to announce an investment partnership with Kryptoskatt. We believe that Kryptoskatt's simplified global crypto tax compliance software will revolutionize the way individuals and enterprises manage their crypto finances, said Investment director at Gate Labs. We are proud to be part of their journey and look forward to their continued success."

About Kryptoskatt

Kryptoskatt simplifies Web3 finance for clients globally with a comprehensive suite of solutions that include accounting, portfolio management, and tax reporting. Supporting over 2000+ DeFi protocols, 100+ exchanges and wallets, and 50+ blockchains, Kryptoskatt is the one-stop-shop for all Web3 finance needs.

With the strategic investments from Binance Labs and Gate Labs, Kryptoskatt is poised for accelerated growth and expanded market reach. The company remains committed to its mission of simplifying crypto tax compliance and delivering exceptional value to its global user base.