Bitwave, a leading enterprise finance platform for digital assets, has successfully completed its integration with the Stellar blockchain. This significant milestone fulfills Bitwave’s commitment under the Activation Award grant received from the Stellar Development Foundation earlier in the year.
Streamlined Accounting and Financial Reporting
The integration enables finance teams using the Bitwave platform to seamlessly account for Stellar on-chain activities. This includes automated transaction categorization and the generation of comprehensive, audit-ready financial reports. Bitwave has enhanced transparency by appending the XLM token ticker symbol to all Stellar token transactions, providing users with quick and clear access to their transaction information.
Enterprise-Grade Controls and Innovative Workflows
Bitwave has developed a high-volume indexer that positions its platform to deliver true enterprise-grade controls for transaction data on the Stellar network. This integration enhances accounting and finance workflows with a suite of capabilities such as granular, lot-by-lot cost-basis tracking, high-volume transaction categorizations, and simplified GAAP/IFRS-compliant reporting.
The platform’s compliance with SOC 1 (T2) and SOC 2 (T2) standards ensures that financial teams can make faster, data-driven decisions with confidence. This integration highlights Bitwave’s commitment to providing robust financial workflows for on-chain activity, reinforcing its position as an industry leader.
Supporting Innovation in the Stellar Ecosystem
Bitwave aims to support FinTech and Fortune 100 companies driving innovation within the Stellar ecosystem. This integration is poised to significantly benefit projects engaging in various on-chain activities, such as tokenizing real-world assets and facilitating cross-border remittances. By partnering with the active Stellar ecosystem, Bitwave continues to contribute to the growth of the energy-efficient Stellar blockchain.
Bitwave’s Co-Founder and COO, Amy Kalnoki, indicated that the collaboration with Stellar represents an exciting advancement for both Bitwave and the broader digital asset landscape. She noted that the integration offers new opportunities for efficiency, allowing finance teams to gain faster insights and simplified compliance. Kalnoki expressed enthusiasm about shaping the future of finance with Stellar.
Enhanced Transparency and Efficiency
Justin Rice, VP of Ecosystem for the Stellar Development Foundation, remarked that the collaboration with Bitwave enhances the transparency of on-chain financial reporting. This development makes it easier for startups and enterprises to innovate with confidence. He emphasized that Bitwave’s financial compliance and reporting tools empower the Stellar community with a new level of efficiency for digital assets. Rice expressed his excitement about working together to foster an inclusive, accessible, and forward-thinking financial ecosystem.
Enabling the Future of Enterprise Finance
By providing seamless accounting automation, simplified compliance processes, and audit-ready financial reporting, Bitwave is enabling the next wave of enterprise money transfers on Stellar. The integration underscores Bitwave’s dedication to advancing blockchain-based financial solutions that enhance user experience and accessibility.
As Bitwave continues to innovate, its collaboration with Stellar marks a significant step forward in the digital asset space. The integration not only enhances financial workflows but also sets a new standard for transparency and efficiency in on-chain financial reporting. Bitwave remains committed to supporting the growth and development of the Stellar ecosystem, driving forward the future of enterprise finance.