We are thrilled to announce a strategic partnership between Recap and coinpass, a UK-based cryptocurrency exchange renowned for its commitment to compliance and transparency. This collaboration aligns with our mission to enhance accounting support for UK companies venturing into the cryptocurrency space.
Why coinpass?
Coinpass, founded in 2018 and domiciled in the UK, has established itself as a trusted platform for retail investors, professional traders, and businesses seeking to invest and trade in cryptocurrencies. As one of the first crypto asset firms to achieve registration with the UK's Financial Conduct Authority (FCA), coinpass has demonstrated a strong dedication to regulatory compliance, offering clients a secure and compliant trading environment. Their commitment to the UK market and understanding of our privacy-focused approach make them an ideal partner for Recap.
In 2023, coinpass became part of The OANDA Group, a global leader in online trading and financial services. This acquisition has further strengthened coinpass's position in the cryptocurrency market, enabling them to leverage OANDA's extensive resources and expertise to deliver innovative crypto investment solutions to clients across the United Kingdom.
How to get started with coinpass
Businesses interested in integrating cryptocurrency into their operations can benefit from coinpass's user-friendly platform. To sign up:
- Visit coinpass: Navigate to coinpass.com
- Create an account: Click on the "Get Started" button and provide the necessary information (business name, email and phone number) to register.
- Verify your details: Complete the verification process by completing email and phone verification and submitting the required documents to comply with KYC (Know Your Customer) regulations.
- Fund your account: Once verified, you can deposit funds using GBP or EUR through various methods, including bank transfers and debit/credit cards.
- Start trading: With funds in your account, you can begin buying, selling, and trading a wide range of cryptocurrencies.
Crypto accounting for UK companies with Recap
At Recap, we simplify crypto accounting for businesses by offering:
- Automated tracking: Securely monitor each transaction and manage your cryptocurrency portfolio with ease.
- Track chargeable gains: Easily calculate taxable events and capital gains.
- Download balance sheets: Access essential financial records to support your accounting processes.
- End-of-year reports: Get everything your accountant needs to complete year-end accounts effortlessly.
You can seamlessly connect your coinpass account with Recap via API to automate your accounting processes and stay compliant with HMRC regulations.
For a detailed guide on connecting your coinpass account to Recap, refer to our help centre article.
Why companies are considering Bitcoin as a treasury asset
As more UK companies explore cryptocurrency investments, Bitcoin is becoming an increasingly popular treasury asset. Businesses are looking at Bitcoin as a hedge against inflation, a store of value, and a strategic long-term investment. If you're considering Bitcoin for your company's balance sheet, our Bitcoin treasury guide provides valuable insights into the benefits and key considerations.
Read our Bitcoin Treasury Guide
Exclusive offer for coinpass customers
To celebrate our partnership, we are offering coinpass customers a 20% discount on their first-year subscription to Recap - use the code COINPASS20 at checkout.
We believe this partnership with coinpass will empower UK businesses to navigate crypto with confidence, backed by robust tools and support from both platforms.
