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Bitwave Successfully Integrates with Stellar Blockchain, Enhancing Accounting Efficiency and Streamlining Finance Reporting for Businesses

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Bitwave Integration with Stellar Blockchain: Fulfillment of Activation Award Grant Requirements

Bitwave Completes Integration with Stellar Blockchain, Fulfilling Grant Requirements

SAN FRANCISCO, June 20, 2024 (GLOBE NEWSWIRE) — Bitwave, the leading enterprise finance platform for digital assets, has successfully completed its integration with the Stellar blockchain. This achievement marks the fulfillment of Bitwave’s commitment as part of the Activation Award grant it received from the Stellar Development Foundation earlier this year.

With this integration, finance teams using the Bitwave platform can now easily account for Stellar on-chain activity with automated transaction categorization and comprehensive, audit-ready financial reports. Bitwave has made sure that all Stellar token transactions are clearly identifiable on the platform by appending the XLM token ticker symbol, providing users with quick and transparent access to their transaction information.

Enterprise-Grade Controls and Innovative Workflows

Bitwave’s high-volume indexer development positions its platform to deliver true enterprise-grade controls for transaction data on the Stellar network. This integration enhances accounting and finance workflows for finance teams with a range of enterprise-grade capabilities, including granular, lot-by-lot cost-basis tracking, high-volume transaction categorizations, and simplified GAAP/IFRS-compliant reporting.

Bitwave’s SOC 1 (T2) and SOC 2 (T2) compliance ensures that financial teams can confidently make faster, data-driven decisions. This integration further demonstrates Bitwave’s dedication to empowering enterprises with robust financial workflows for on-chain activity.

Supporting Innovation in the Stellar Ecosystem

Bitwave is committed to supporting FinTech and Fortune 100 companies that drive innovation within the Stellar ecosystem. This integration will greatly benefit projects exploring various on-chain activities, such as tokenizing real-world assets or facilitating cross-border remittances. By collaborating with this active ecosystem and community, Bitwave continues to contribute to the growth of the energy-efficient Stellar blockchain.

Amy Kalnoki, Co-Founder and COO of Bitwave, expressed her excitement about the collaboration with Stellar, stating, "This integration unlocks a new opportunity for efficiency, where finance teams can access faster insights and simplified compliance. We’re thrilled to be shaping the future of finance with Stellar."

Justin Rice, VP of Ecosystem for the Stellar Development Foundation, also commented on the collaboration, highlighting how Bitwave’s financial compliance and reporting tools empower the community with enhanced efficiency for digital assets.

By offering seamless accounting automation, simplified compliance processes, and audit-ready financial reporting, Bitwave is paving the way for the next wave of enterprise money transfers on Stellar.

For more information and updates on Bitwave’s support for the Stellar ecosystem, visit bitwave.io or fill out the form on their website to stay connected.

About Bitwave

Bitwave is the leading digital asset finance platform for enterprises, offering automated accounting workflows, regulatory compliance, tax tracking, payment streamlining, and unified data management. From crypto accounting to tax tracking and DeFi monitoring, Bitwave provides comprehensive solutions for managing digital assets.

About Stellar

Stellar is a decentralized network for financial products and services, connecting the world’s financial infrastructure through cross-currency transactions and digital asset issuance. Financial institutions worldwide use the Stellar network for asset issuance and payment settlement.

Contact:
Kaleb Leija
Director of Marketing
Bitwave
kaleb.leija@bitwave.io

Photo available at: Bitwave Photo

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