Crypto data platform Glassnode will sell its crypto tax platform Accointing to Blockpit to focus on new digital asset intelligence solutions targeting institutional investors and decentralized finance (DeFi), CoinTelegraph reported.

What Happened:  Blockpit, a European crypto compliance provider, wanted a consolidated and unified crypto tax platform for Europe. No further details of the transaction have been disclosed.

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“We have used the last months to reshape our infrastructure, enabling our move into DeFi data solutions and expansions into other digital asset ecosystem areas in the future," said a Glassnode representative, according to CoinTelegraph.

Glassnode acquired Accointing to introduce tax-reporting compliance tools into its platform in October 2022.

Also Read: Digital Asset Software Is Not Ready For Institutions – Here's What It Needs

Why It Matters: Glassnode already built the on-chain data platform for Bitcoin and Ethereum and was looking for expansion into DeFi which will equip institutions with DeFi data and tools. 

Austria-based Blockpit co-founder and CEO Florian Wimmer said to CoinTelegraph that Accointing users will be easily able to migrate their profiles and data to a new Blockpit account. 

Benzinga’s Future Of Digital Assets Event in New York is scheduled for Nov.14. Attend and learn more about data platforms and their institutional offerings. The gathering is seen as pivotal for the digital assets community. The event will spotlight the latest trends, innovations, and challenges in the digital asset realm.

Read Next: The Can't-Miss Crypto Summit Of 2023: Benzinga's Future Of Digital Assets Conference In NYC

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