Bitwave acquires crypto accounting platform Gilded

cointelegraph.com:

Crypto winter keeps sparking consolidation among crypto firms. The latest deal in the industry is the acquisition of payments and accounting platform Gilded by one of its competitors, Bitwave. 

According to a statement shared with Cointelegraph, the acquisition is expected to enhance Bitwave's enterprise solutions, including crypto payments and invoicing features, as well as tools for tax tracking and bookkeeping. The integration will also see Ken Gaulter, chief technology officer of Gilded, join Bitwave's engineering team. This deal comes just a few months after Bitwaveacquired Multisig Media.

"We see digital asset payments as faster and cheaper than traditional payment rails — and in this hyper-connected economy, we expect that to be a game changer for businesses,” Pat White, Bitwave co-founder and CEO, told Cointelegraph. The companies did not disclose the acquisition price.

Gilded was founded in 2018 by a group of developers and accountants. It was founded on the premise of helping companies integrate crypto solutions into their financial reporting and accounting processes.

According to Gilded Crunchbase's profile, it has over 130 enterprise customers across crypto startups, nonfungible tokens (NFTs) marketplaces, decentralized autonomous organizations (DAOs), miners and accounting firms. Gilded's client base will continue to use its existing products while also being introduced to Bitwave's platform.

Bitwave, also founded in 2018, similarly offers crypto accounting and compliance services. The company closed a $15 million Series A in December 2022 to expand its crypto solutions to meet complex accounting requirements for enterprises. Hack VC and Blockchain Capital led the round. In addition, Bitwave recently announced