Taxbit, the enterprise-grade tax and accounting compliance platform for digital assets, has partnered with Mural Pay to deploy a payments module that allows any company to integrate stablecoin payments – including invoice generation and tracking – into their day-to-day operations and accurately meet their financial reporting and tax filing requirements.
Taxbit will leverage Mural Pay’s technology to offer invoicing and payment functionality to its customers in the US, Europe, Latin America, and across the globe. The partnership allows select Taxbit clients, which include digital asset exchanges, banks, fintechs, and government entities, to invoice customers directly and accept desired stablecoins as payment. This enables a more seamless integration of digital assets into customers’ operational workflows by making cross-border payments quick, cost-effective, and secure.
“Stablecoins and payments have clearly become one of crypto’s ‘killer applications.’ It’s fundamentally transforming the way that companies transact and how treasury teams think about cash management and cross-border flow of funds. Moving assets, specifically stablecoins, on-chain enables faster and less expensive payments. At the same time, middle and back office operations for on-chain payments introduce real challenges. Tracking on-chain payments, reconciling on-chain funds, operating across multiple blockchains, all while managing invoices and ensuring tax and accounting compliance, is very difficult to do. Taxbit is providing the tools and solutions companies need to support those critical functions.”
– Aaron Jacob, VP of Enterprise Accounting at Taxbit
While Taxbit is renowned for its best-in-class tax and accounting solutions for global enterprises and government agencies, this new product module unlocks around-the-clock payments and collections functionality. By partnering with Mural Pay, Taxbit now offers financial teams a full stack of financial services under the Taxbit brand: payments, invoicing, treasury management, tax reporting, and operational accounting.
The stablecoin industry is poised to drive mainstream and enterprise adoption of digital assets by revolutionizing the way people transact. According to the World Economic Forum, the total transfer volume of stablecoins last year was $27.6 trillion USD, surpassing the combined value of Visa and Mastercard transactions in 2024.
“Stablecoins move globally, 24/7, at a fraction of the cost of traditional methods. We are going to see an exponential increase in the number of institutions adopting this technology to take advantage of its intrinsic benefits like faster settlements and lower fees. At Mural Pay, we’ve built the infrastructure to remove the historically clunky, fragmented, and technically complex user experience of adopting stablecoins. Now, any business – including clients of Taxbit – can leverage the benefits of stablecoin payments without needing to become a blockchain or accounting expert.”
Stay Ahead of the Financial Curve with Our Latest Fintech News Updates!
