NexumStp becomes a shareholder of Xbooks LTD, the innovative startup that developed the CryptoBooks platform.
NexumStp, which assists around 22,000 SMEs across Italy with business, tax, legal and labor consulting, has invested a minority stake in Xbooks LTD, which is based in London and has recently set up a subsidiary company in Italy. Thanks to the CryptoBooks software (https://cryptobooks.tax), the startup collects and manages tax information about the use of cryptocurrencies, which is soon to be regulated in Italy as well.
Marco Nardini, Equity Partner and coordinator of the fiscal and corporate department of NexumStp, states, “We are proud to become part of an innovative company like Xbooks. This partnership makes us one of the pioneering professional firms when it comes to managing advanced technology at the service of the businesses and individuals we support. The cryptocurrency market is in the throes of a period of great change and evolving rapidly. NexumStp will, therefore, be well placed to meet this challenge.”
Today, 25% of global cryptocurrency transactions take place in Europe (source: Chainanalysis). “These transactions are completely different from traditional financial transactions, so it is not easy to categorize them according to current compliance obligations,” states Federico Pacilli, CryptoBooks CEO and founder. “With our platform, we are able to bridge the gaps of existing market solutions and respond to an increasingly stringent need. Entering into a partnership with an established, widespread and change-conscious group like NexumStp is a source of immense satisfaction for us.”
Thanks to CryptoBooks, individuals and companies that make payments or investments with cryptocurrencies will be able to generate reports for all transactions,
classify them and calculate capital gains and losses thus acquiring all the accounting information they need to prepare tax returns or financial statements. The process is intuitive and complies with the regulations and tax provisions of their home country.