Crypto data platform Glassnode sells Bitcoin tax software to Blockpit
Cryptocurrency intelligence firm Glassnode has said it’s dropping crypto tax-related projects to focus on new solutions targeting institutional investors and decentralized finance (DeFi).
Glassnode, on Nov. 6 announced the sale of its crypto-focused tax platform known as Accointing to the European crypto compliance provider Blockpit. The firms declined to disclose the size of the deal to Cointelegraph, only revealing that the transaction was a “multimillion-dollar deal.”
“Glassnode will exit the crypto tax space with the sale of Accointing to Blockpit,” a spokesperson said, adding that the deal enables the firm to deepen its focus on delivering new Digital Asset Intelligence Solutions to its institutional clients.
“We have used the last months to reshape our infrastructure, enabling our move into DeFi data solutions and expansions into other digital asset ecosystem areas in the future,” Glassnode representative noted, adding:
The transaction came just a year after Glassnode acquired Accointing to introduce tax-reporting compliance tools into its platform in October 2022.
The acquisition of Accointing marks another foray by Blockpit into merging with competitors, as the platform previously merged with the German rival platform Cryptotax in 2020. With the latest acquisition, Blockpit reiterated its ambition and vision for a consolidated and unified crypto tax platform for Europe.
“Due to the very similar nature of the Blockpit and Accointing platform, the acquisition really is a perfect opportunity,” Blockpit co-founder and CEO Florian Wimmer told Cointelegraph.
Related: 5 nations challenge crypto experts and investigators to target tax crimes
Wimmer said that Accointing users could “easily migrate their profiles and data”
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