Bitwave and Polymesh: Elevating Financial Compliance for Regulated Assets

The Polymesh Association is thrilled to announce a strategic collaboration with Bitwave, the leading enterprise digital asset finance platform, to further elevate financial compliance, reporting, and operational efficiencies for projects on the Polymesh network.

Supported by the Polymesh Ecosystem Development Fund, Bitwave is developing a native integration with Polymesh, the institutional-grade permissioned blockchain built for regulated assets. This integration empowers financial institutions with streamlined financial workflows, enabling them to uplift their accounting and financial operations through essential enterprise-grade solutions for regulated assets.

These new efficiencies in financial compliance and reporting will help businesses in regulated ecosystems––such as those involved in the tokenization of real world assets––to automate and optimize their accounting processes while meeting the highest standards of financial reporting, such as the US GAAP and IFRS.

Specifically, this integration will bring granular cost-basis tracking, pricing analysis, and automated transaction categorization to Polymesh, enabling projects on the public permissioned network to leverage best-in-class tools for financial compliance.

Key benefits of this integration for the Polymesh ecosystem include:

• Effortless ERP Integration: Seamlessly integrate Polymesh on-chain transactions with popular ERP systems such as Oracle NetSuite, QuickBooks, Xero, and Sage, simplifying accounting and reconciliation workflows.
• Granular Lot-by-Lot Cost-Basis Tracking: Ensure price tracking of assets and accurate short-term and long-term gain/loss reporting, streamlining tax reporting and compliance.
• Comprehensive Financial Reports: Generate SOC 1 (T2) and SOC 2 (T2) compliant reports, providing transparency and confidence in meeting industry standards.
• Simplified Regulatory Compliance: Maintain US GAAP / IFRS-compliant records with a standardized, audit-ready tracking system. 
• High-Volume Indexing: Benefit from a custom Polymesh Network indexer developed by Bitwave, enabling total transaction tracking and real-time data for fuller transparency.

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This collaboration is an exciting milestone for Polymesh as it further strengthens its position as the blockchain of choice for regulated assets and supports its growing ecosystem of enterprise-focused applications. By enabling Bitwave’s world-class financial accounting and reporting infrastructure on Polymesh, developers, enterprises, and startups can gain the tools they need to confidently innovate and scale tokenization services and solutions. 

“The Polymesh Association is committed to developing premier tokenization technology for real world assets, and this collaboration with Bitwave is a key step in delivering on that promise,” said Bill Papp, CEO of the Polymesh Association. “By integrating Bitwave’s powerful financial compliance and reporting tools with the permissioned blockchain, we’re making it easier for financial institutions to navigate the complexities of regulated asset management while empowering projects to scale confidently without sacrificing compliance.”

“Bitwave is thrilled to partner with Polymesh to deliver enterprise-grade accounting and reporting tools that empower businesses to scale with confidence,” said Amy Kalnoki, Co-Founder and COO of Bitwave. “This collaboration highlights Polymesh’s commitment to supporting institutional participants with the infrastructure they need to achieve compliance and unlock new opportunities in regulated asset management.”

"Polymesh is setting a new standard for the tokenization of real-world assets, and Bitwave is proud to bring the tools that financial professionals need to succeed," said Jim Thompson, VP of Sales at Bitwave. "This integration allows our clients to streamline complex processes like cost-basis tracking, high-volume reconciliation workflows, and compliance reporting, making it easier than ever to scale operations while meeting rigorous regulatory requirements."

Founded in 2018, Bitwave is the first enterprise digital asset finance platform designed specifically for businesses to manage cryptocurrency tax, accounting, and compliance. The platform is trusted by major onchain financial leaders including Coinbase, Copper, FV Bank, Figment, and others.

The Polymesh-Bitwave integration is opening a new era of financial efficiency and compliance for Polymesh users, providing individuals, businesses, and accounting firms with the enterprise-grade asset management infrastructure they need to optimize operations and confidently manage compliance for accounting and reporting. 

Discover how Polymesh can help you streamline workflows and unlock new financial products. Visit polymesh.network to inquire and learn more. 

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About Bitwave

Bitwave is the #1 digital asset sub-ledger and on-chain finance platform. Built for enterprises and institutions, Bitwave delivers the reliability, security, and control demanded by today’s leading finance teams. Bitwave automates on-chain accounting workflows, streamlines regulatory compliance, and simplifies tax reporting complexity with a comprehensive, audit-ready platform. Bitwave enables the digital asset economy with scalable financial ops.

Visit Bitwave.io for more.

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About Polymesh Association

The Polymesh Association is a not-for-profit dedicated to the growth of the Polymesh ecosystem through Polymesh and Polymesh Private. Polymesh is a leading public permissioned blockchain purpose-built for real world assets that streamlines capital markets and opens the door to new financial products. Polymesh Private is a private permissioned instance of Polymesh that can be deployed by enterprises.

Visit polymesh.network to learn more.