NEW YORK--(BUSINESS WIRE)--Voyager Digital Holdings Inc. (“Voyager”), a new and licensed commission-free crypto asset brokerage, today announced that it has teamed with Silver Cost Basis (“Silver”), a leading provider of business and technology solutions for the investment services industry, to provide cryptocurrency cost basis tax analysis and processing for Voyager customers.
Delivering on its goal to bring a customer-first, transparent crypto trading platform to the market, Voyager will further enhance the user experience by 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.
Steve Ehrlich, Voyager CEO said: “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.” 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 an industry-leading 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,” said Neal Ruskin, Silver's Managing Partner responsible for product strategy. “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.”
Voyager previously announced that its retail mobile trading app is expected to launch in Q4 2018 with its Silver Cost Basis integration expected in early 2019.
About Voyager Digital
Voyager Digital Holdings Inc. (Voyager) through its subsidiary, CryptoTrading Technologies, LLC is a crypto-asset broker that provides retail and institutional investors with a turnkey solution to trade crypto assets. Voyager offers investors best execution, data and custody services through its institutional-grade open architecture platform. Voyager was founded by established Wall Street and Silicon Valley entrepreneurs who teamed to bring a better, more transparent and cost efficient alternative for trading crypto-assets to the marketplace. Voyager is based in New York and is registered with FinCen. https://www.investvoyager.com/
About Silver Management Group, Inc.
Silver is a leading provider of business and technology solutions for the investment services industry. The Silver team applies decades of the security industry and software development experience, along with a passion for solving real-world problems, to deliver cost-effective brokerage operations and wealth management solutions for our clients. Silver's strategic partners provide complementary services, software, and market data to enhance Silver solutions. Silver's proprietary software solutions are currently used by some of the world's most respected financial institutions to process tens of millions of investment accounts and trillions in assets. Please visit www.silvermanagement.com/