A leading digital asset management platform, Ledgible, has unveiled a new tax solution tailored for tokenized real assets.
This innovative tool aims to streamline compliance processes for businesses amidst evolving federal regulations, including the IRS Form 1099-DA’s requirements for detailed digital asset disclosures.
The platform’s CEO, Kell Canty, emphasized its readiness to address these new rules, stating that given the IRS’s specific reporting demands, they’re well-equipped to support clients. Ledgible’s proactive stance offers businesses a seamless transition to regulatory changes without disrupting their operations.
Ledgible’s entry into the market coincides with the rising trend of real-world asset tokenization in finance. Blockchain technology, integral to this process, enhances transparency and accountability in asset management—a crucial aspect as more institutions integrate digital currencies into their strategies.
In a strategic move, Ledgible has also partnered with financial giant Franklin Templeton to bolster the adoption of its tax reporting tools. Franklin Templeton’s pioneering US-registered fund utilizes the public blockchain for transactions and share recording, showcasing Ledgible’s solutions in real-world applications.
Roger Bayston, Head of Digital Assets at Franklin Templeton, highlighted the partnership’s role in meeting compliance needs and exploring token interoperability for diverse investment opportunities.
The broader digital asset landscape, propelled by projects like Polkadot’s RWA-focused SDK, offers fertile ground for innovations like Ledgible’s. These tools empower companies to navigate digital asset management efficiently, reflecting a promising future for asset tokenization and compliance solutions in finance.
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