Recap, a leading name in crypto tax calculation services, is joining forces with Hoptrail, a pioneer in source of fund analytics and risk intelligence services, to transform the landscape of wealth analytics and compliance in the crypto industry.
The collaboration brings together Recap and Hoptrail’s complementary services to achieve a shared mission: to provide a seamless solution for financial service institutions, and individuals with substantial crypto holdings, to decipher the origins of crypto assets, and ensure compliance with evolving regulatory standards.
Through its cutting-edge blockchain data analysis, Hoptrail ensures an accurate understanding of where money originates, a crucial part of Anti-Money Laundering (AML) regulations and comprehensive risk management.
By seamlessly integrating Hoptrail’s sophisticated source of wealth analytics into Recap’s tax calculation technology, clients will benefit from a fully automated end-to-end source of wealth and compliance checks.
The partnership addresses the growing demand for accurate tax reporting and source of fund verification in the crypto industry. As more individuals and businesses embrace cryptocurrencies, the need for compliant financial practices becomes increasingly vital.
Recap’s established presence in the crypto tax space, combined with Hoptrail’s unparalleled source of wealth analytics, forms a synergy set to benefit individuals, financial institutions and regulatory bodies alike.
Speaking about the partnership, Daniel Howitt, CEO and co-founder of Recap said:
“Bringing Recap and Hoptrail together is a natural progression in the crypto taxation and financial compliance space. This collaboration represents a transformative step in aligning cryptocurrency with traditional finance – not only empowering those who have already made their wealth in the crypto realm, but also paving the way for the traditionally minded investors to seamlessly move towards digital currencies.
Henry Burrows, CEO of Hoptrail added:
“At Hoptrail, we’re dedicated to illuminating the often complex paths of cryptocurrency wealth. This partnership marks a milestone in enhancing the integrity and transparency of the crypto ecosystem, as we move towards ensuring that anyone dealing with crypto can take confidence in their financial processes. Together, we’re helping the UK edge closer to establishing a robust foundation for the future of crypto within the global financial landscape.”