Ironing Out the Regulatory Picture for Early Players

Human capabilities cannot be deemed anything less than unlimited, and yet at the same time, there remains shockingly little that we do better than growing on a consistent basis. This progressive approach, on our part, has already got the world to hit upon some huge milestones, with technology appearing as a major member of the stated group. The reason why technology enjoys such an esteemed stature among people is, by and large, predicated upon its skill-set, which ushered us towards a reality that nobody could have ever imagined otherwise. Nevertheless, if we look up close for a second, it will become clear how the whole runner was also very much inspired from the way we applied those skills across a real world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, and consequentially, kickstarted a tech revolution. Of course, this revolution then went on to scale up the human experience through some outright unique avenues, but even after achieving such a monumental feat, technology will somehow continue to produce the right goods. The same has grown increasingly evident over the recent past, and assuming one new fintech-themed development shakes out just like we envision, it will only make that trend bigger and better moving forward.

Bitwave, the leading enterprise financial platform for digital assets, has officially announced that it has been selected as a service partner of NEAR Foundation’s Horizon network, a groundbreaking marketplace connecting founders and resources within the NEAR ecosystem. According to certain reports, the development will go a long way in helping Bitwave support early stage start-ups through its industry-leading financial compliance solutions. Talk about what Bitwave is likely to bring here on a more granular level, any answer to that must include the company’s successful history in terms of guiding new businesses through a complex landscape made from various different tax and accounting regulations. You see, given a clear lack of resources at their disposal, most start-ups end up running into a common problem where they are simply unable to fulfill the requirements put forth by stuff like manual financial tracking, tax complexities, and future audit readiness. Hence, in order to make sure that these troubles are addressed before they leave a lasting impact on the business, Bitwave steps in to automate all accounting workflows, while simultaneously encouraging regulatory compliance across every area. By doing so, it allows businesses to stay audit-ready, and at the same time, dedicate an optimal amount of focus towards innovation.

“Bitwave’s addition as an official Service Partner on NEAR Horizon is a testament to our dedication to simplifying the digital asset ecosystem for startups,” said Pat White, CEO and Co-Founder of Bitwave. We understand the challenges faced by early-stage ventures in managing financial complexities. With Bitwave, startups, regardless of their size, gain access to industry-leading tax and accounting compliance software that saves invaluable time through automated workflows and intelligent transaction categorizations,”

Apart from its software prowess through, Bitwave’s admission into NEAR Horizon’s initiative also unlocks the access to company’s pool of insights, as well as its BitwaveU program. In case you didn’t know, the BitwaveU program is specifically designed to educate new businesses on a wide assortment of technical aspects, thus reducing their reliance on external help and nurturing a more sustainable brand of growth. Interestingly enough, this isn’t the first ever collaboration between Bitwave and NEAR ecosystem, considering just a few months ago, the former completed a direct integration with NEAR blockchain to let projects quickly and confidently track, manage, and account for their entire on-chain financial activity. The move paved a way for Bitwave to leverage one secure, scalable, and eco-friendly Layer 1 network, which completes more than 1M transactions daily, boasting an average block time of 1.2 seconds, and providing it all at an average fee of $0.0001, to build open web apps in a fully compliant and audit-ready manner.

“We’re thrilled to welcome Bitwave to NEAR Horizon,” said Laura Cunningham, General Manager of NEAR Foundation. “Bitwave empowers startups with not only sophisticated financial tools but also the expertise to navigate the intricate world of scaling and fundraising in a fully compliant, audit-ready way.”