PayPal Ventures invests in crypto tax automation software firm

Cryptocurrency tax automation software provider TaxBit has secured investment from PayPal Ventures, Coinbase Ventures, and existing investor Winklevoss Capital. The size of the investment was not disclosed.

Founded by certified public accountants, tax attorneys, and software developers, TaxBit automates all aspects of cryptocurrency tax compliance for consumers, businesses, and exchanges.

Austin Woodward, CEO, TaxBit, says: “This investment will help us achieve our aim of being the most innovative and trustworthy provider of cryptocurrency tax technology.”