Raiffeisen Bank Invests in Blockpit to Simplify Crypto Tax Compliance

In a significant move to simplify crypto tax compliance, Raiffeisen Bank International’s venture capital arm, Elevator Ventures, has invested millions in Blockpit, an Austrian startup leading the way in crypto asset taxation.

Blockpit’s platform helps crypto traders and investors by turning complex blockchain transaction data into clear and compliant tax documents. This service is increasingly in demand as governments around the world implement stricter cryptocurrency regulations.

CEO Florian Wimmer views this investment as a “next step” in integrating the crypto sector with traditional finance. Maximilian Schausberger, managing director at Elevator Ventures, added:

“If we succeed in enabling users and crypto traders to be compliant with tax issues and tax payments, then the topic will also become interesting for the masses. Financial institutions want to simplify the topic of taxes for their customers, among other things.”

With services available in ten countries, Blockpit is gaining traction in the crypto community, and the partnership will help accelerate its expansion. This deal also represents Elevator Ventures’ first entry into the crypto startup space, showcasing their commitment to supporting innovative companies at the intersection of finance and technology.