Voyager Digital Holdings, a new and licensed commission-free crypto asset brokerage, today announced that it has teamed with Silver Cost Basis, a provider of business and technology solutions for the investment services industry, to provide cryptocurrency cost basis tax analysis and processing for Voyager customers.
Aiming to further enhance the user experience, Voyager will be providing real-time realized and unrealized gain/loss analysis and fully compliant investor tax information through its integration with Silver’s cryptocurrency cost basis processing solution.
“Voyager was developed to provide a single access point for investors to efficiently and securely manage all their crypto assets in one place. Silver’s cost basis and tax analysis tools add an important layer to our differentiated solutions and underscore our commitment to provide customers with the ability to trade crypto assets in a stable, safe and cost-efficient environment with the same confidence that they have come to expect from more established markets.”
Steve Ehrlich, Voyager CEO
Ehrlich added that this integration builds on Voyager’s existing offerings, which include delivering best execution via smart order routing technology, wallet, self-custody, as well as access to pertinent news and alerts, social feeds, research, and customer service.
For more than a decade, Silver has been recognized as a top regulatory securities cost basis solution. Building on its legacy of compliance and innovation, Silver has emerged as the leader in the cryptocurrency cost basis space. Silver processes all types of cryptocurrency activity including coin/fiat and coin/coin trades in any coin and any fiat, payments in coin, airdrops and other income events, and hard forks and token exchanges. The system applies regulatory treatment for the many aspects of cryptocurrency activity that fall under established taxation rules and offers per-account, per-event choice for the aspects where the rules remain uncertain.
“By leveraging our production-proven securities cost basis capabilities, we are uniquely positioned to offer a scalable cryptocurrency cost basis processing. We address the significant recordkeeping burden taxpayers face today as well as the inevitable information reporting requirements to be imposed moving forward. Our solution will provide year-end statements that investors can use to prepare their returns and will transition to regulatory reporting as soon as required.”
Neal Ruskin, Silver’s Managing Partner responsible for product strategy
Voyager explained the Silver Cost Basis integration is expected in early 2019, and that its mobile trading app is expected to launch in Q4 2018.