NEW YORK, May 12, 2020 /PRNewswire/ -- Voyager Digital Canada, Ltd. ("Voyager" or the "Company") (CSE:VYGR;OTCQB:VYGVF; FRA:UCD2), a public, licensed crypto-asset broker that provides investors with a turnkey solution to trade crypto assets, today announced that it has partnered with Silver Cost Basis ("Silver"), a leading provider of regulatory cost basis processing solutions, to deliver year-end cryptocurrency gain/loss statements to its customers. The partnership enhances Voyager's already outstanding client experience by providing investors and traders with gain/loss information for use in preparing accurate tax returns.
"Silver's cryptocurrency cost basis processing solution further extends our user experience by providing real-time gain/loss analysis and fully compliant investor tax information that otherwise, may or may not have been realized," explains Steve Ehrlich, CEO and co-founder of Voyager Digital. "Our integration with Silver helps Voyager to continue to deliver on our goal to offer a fully transparent crypto trading platform that puts the customer first."
For more than a decade, Silver has been recognized for its industry-leading regulatory securities cost basis processing solutions. Building on its proven track record of compliance and innovation, Silver has emerged as the leader in the cryptocurrency cost basis space. Silver Cost Basis applies regulatory treatment for cryptocurrency activity under established taxation rules and guidance, including Notice 2014-21 and the more recent Revenue Ruling 2019-24 and updated FAQs. The Company previously announced that it had partnered with Voyager to provide cryptocurrency cost basis tax analysis and processing for Voyager customers.
"Customer gain/loss statements provide the information needed for cryptocurrency traders to accurately complete their Forms 8949 and 1040, and can even be attached to tax returns," said Neal Ruskin, Silver's Managing Partner responsible for product strategy. "By providing statements to their customers in advance of regulatory requirements, Voyager is setting the standard for transparent reporting in the cryptocurrency space."
Earlier this year, Voyager announced that it has acquired Circle Invest, the retail digital asset business from Circle Internet Financial, Inc. This transaction added more than 40,000 retail accounts to Voyager's customer base, making it one of the largest, digital-asset-only agency brokers in the U.S. As of February 29, 2020, the Company is servicing over 200,000 global users across its platforms.
About Voyager Digital (Canada) Ltd.
Voyager Digital (Canada) Ltd. is a crypto-asset broker that provides retail and institutional investors with a turnkey solution to trade crypto assets. Voyager offers customers best execution and safe custody on a wide choice of popular crypto-assets. 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. Please visit us at https://www.investvoyager.com for more information and to review the latest Corporate Presentation.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. No securities regulatory authority has either approved or disapproved of the contents of this press release.
Cautionary Statement Regarding Forward-Looking Information: The forward-looking statements contained herein are made as of the date of this release and, other than as required by applicable securities laws, the Company does not assume any obligation to update or revise it to reflect new events or circumstances. The forward-looking statements contained in this release are expressly qualified by this cautionary statement.
About Silver Management Group of Companies
Silver is a leading provider of business and technology solutions for the investment services industry. The Silver team applies decades of 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/
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SOURCE Voyager Digital