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Compact:
- The German startup CryptoTax is taken over by Blockpit.
- The companies emphasize a takeover on an equal footing.
- Together they want to conquer the US market.
Two become one. The German company CryptoTax offers consumers the opportunity to tax tools to calculate and list your trading activities on various Bitcoin exchanges and other service providers.
Blockpit is also active in this business area and has now invested excess funds from a financing round in order to merge with its German competitor. Details about the amount paid are not known, only that it should be a six-figure amount. In addition, company shares were exchanged, so that the Austrian Blockpit GmbH is now the mother of the German 21 Consulting GmbH, the company behind CryptoTax.
Blockpit collected around 2.5 million euros through an STO, which gave the company the purchasing power it needed for the deal.
The US market as a common goal
However, the merger should not serve to define the area in Germany and Austria, but to achieve new goals together. They already have successes at European level, and now they want to compete as a challenger on the US market.
The large number of competitors proves that CryptoTax has so far acted very skillfully on the market. For example, solutions from CoinTracking or Accointing are available to German and international customers.
The core element of all providers is always binding and compliance with regulations and tax laws. This gives customers the confidence to act in a rapidly changing environment.
TAX Token benefits
The investors of the TAX token, which was sold at the STO, should be happy. Because the holders are also entitled to profit distributions from the CryptoTax, because the sales of the German subsidiary are now included.
With increasing regulation of the market, solutions like those from Blockpit and CryptoTax should continue to benefit in the future. Ultimately, both consumers and businesses will increasingly rely on it.
