Cryptocurrency

Glassnode sells Bitcoin tax software to Blockpit, expanding its platform capabilities and services.

Glassnode Sells Crypto Tax Software to Focus on Institutional Investors and DeFi

Cryptocurrency intelligence firm Glassnode has recently announced its decision to shift its focus away from crypto tax-related projects and instead concentrate on developing new solutions for institutional investors and decentralized finance (DeFi).

Glassnode Sells Accointing Tax Platform to Blockpit

On November 6, Glassnode revealed that it had sold its crypto-focused tax platform, known as Accointing, to European crypto compliance provider Blockpit. Although the exact size of the deal remains undisclosed, both companies have confirmed that it is a multimillion-dollar transaction.

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Embracing New Opportunities

Glassnode’s strategic move to divest its crypto tax software signifies its commitment to exploring fresh avenues within the crypto industry. By shifting its attention towards institutional investors and the rapidly evolving DeFi space, Glassnode aims to provide innovative solutions that cater to the changing needs of the market.

Future-focused Solutions

Recognizing the growing demand for specialized tools and services in the institutional sector, Glassnode is determined to develop cutting-edge solutions that cater to this high-value market segment. With its extensive expertise in cryptocurrency intelligence, the company is poised to offer institutional investors valuable insights and analytics, empowering them to make informed investment decisions.

Decentralized Finance Takes Center Stage

Alongside its focus on institutional investors, Glassnode is also directing its efforts toward the burgeoning realm of decentralized finance (DeFi). By leveraging its expertise in blockchain analytics, the company aims to contribute to the advancement of DeFi platforms and protocols, unlocking new opportunities and driving innovation within this rapidly expanding sector.

Conclusion

Glassnode’s decision to divest its crypto tax-related projects in favor of targeting institutional investors and DeFi reflects the company’s adaptability and commitment to staying at the forefront of the crypto industry. By embracing new opportunities and developing future-focused solutions, Glassnode is poised to make a significant impact in these innovative sectors.

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