Bitwave Integrates with Coinbase Prime to Revolutionize Crypto Payment Industry
By seamlessly integrating with a business’ existing payment structure, Bitwave solves the challenge of adding on-chain payment capabilities to a broader compliance program.
San Francisco, CA, US, Oct. 25, 2023 (GLOBE NEWSWIRE) -- – Bitwave, the leading provider of enterprise finance solutions for digital assets, is thrilled to announce the launch of Bitwave Enterprise Payments, a groundbreaking, end-to-end institutional crypto payments product. This exciting solution is launching today with a seamless integration to Coinbase Prime and developed as part of Bitwave’s continued membership in the Coinbase Partner Network. This innovative offering is set to transform the landscape of digital asset transactions for businesses, offering a simplified, secure, and audit-ready solution for crypto payment operations.
Bitwave Enterprise Payments empowers businesses with a streamlined approach to crypto payments. Finance teams can now directly initiate, send, and record crypto payments from their custodial account to vendors, enhancing visibility and control over payment operations.
By seamlessly integrating with a business’ existing payment structure, Bitwave solves the challenge of adding on-chain payment capabilities to a broader compliance program. Bitwave effortlessly compliments vendor management solutions like Coupa and ERP / AP management solutions like NetSuite, enabling seamless crypto payment operations within a larger enterprise flow.
"At Coinbase, we've learned that partnerships are really important to effectively onboard new merchants to crypto payments. That's where Bitwave comes in. Today, we’re excited to announce this latest integration with Bitwave to help businesses make sense of digital assets and the broader payment landscape," said Coinbase Partner Network Lead, Drew Rogers.
With Bitwave Enterprise Payments, institutions utilizing Coinbase Prime can consolidate and minimize costs across their reporting, customer service, and payment operations. The integration of this comprehensive solution enables businesses to deliver a seamless customer experience across their entire financial stack – from their chosen ERP to their Coinbase custodial account.
With a dedicated focus on simplifying accounting processes for crypto-denominated invoices and payments, the platform ensures accuracy and compliance, and allows institutions to efficiently manage their financial records while seamlessly integrating cryptocurrency transactions into their existing accounting systems.
“At Bitwave, we see digital assets as a powerful way to transform the unit economics around payments. Traditional payment models are generally based on two dimensions – volume and size. With crypto, those dimensions are no longer a factor, enabling businesses to move money, instantly, for a fraction of the cost,” said Bitwave CEO and Co-Founder, Pat White.
“Together with Coinbase, Bitwave has taken a significant step towards enabling on-chain payments for businesses by integrating with their broader operational programs. We're excited to debut a full-stack payment platform that is deeply integrated with the critical reporting, audit, and compliance systems institutions rely on. We’re thrilled to work with Coinbase to continue bridging this gap and leading the future of financial payments for businesses everywhere." said White.
One of the key highlights of Bitwave Enterprise Payments is its powerful pricing engine, which calculates accurate and optimal prices for specific products and services based on given criteria. This feature can support any invoice denomination with a flexible, enterprise-grade categorization system and allows automated pricing rules for vendors, significantly reducing manual workloads for customers. Furthermore, the platform offers comprehensive support for token-based invoices, including complex tax and reporting treatments such as marking-to-market, over-the-top derivatives, and embedded derivatives.
Bitwave Enterprise Payments was co-created to support Coinbase Prime and is now available as a transformative solution for Coinbase Prime customers. For more information, please visit bitwave.io.
About Bitwave
Bitwave is the #1 digital asset finance platform for enterprises.
Bitwave automates accounting workflows, enables regulatory compliance, reduces tax burden complexity, streamlines payments, and unifies data with a modern, connected platform.
From high-volume crypto accounting to enterprise tax tracking, audit-ready bookkeeping, and advanced DeFi monitoring – Bitwave delivers the most comprehensive solution for mitigating digital asset complexity.
Businesses of all sizes - from Fortune 100 titans to early-stage crypto-native projects – trust Bitwave to help them achieve financial excellence. We’re proud to work with some of the most recognizable Web2 and Web3 brands in the world - including, OpenSea, Blockdaemon, Hedera, ArtBlocks, Figment, Compound, Polygon, Stardust, Shrapnel, Joyride Games, NEAR, and more.
Bitwave is backed by industry-leading partners, including Hack VC, Blockchain Capital, and Signal Fire, Valor Equity Partners, Arca Endeavor Fund. To learn more, visit bitwave.io.
Hari Govindarajan PR & Comms Specialist, Luna PR [email protected]