Sovos chooses Prime Trust for tax reporting and compliance

As the one-stop-shop for financial infrastructure, Prime Trust helps fintechs across crypto exchanges, NFTs, digital wallets, ATS, RIAs, broker dealers, banks, and neobanks to innovate and scale securely.

With the rapid growth of the digital asset market and increased compliance measures, Prime Trust needed a reporting solution that could accommodate user growth and expand information reporting demands. The company will also use Sovos technology to automate 1099 forms and filings, eliminating potential errors and delivering automatic regulatory updates to help customers navigate the cryptocurrency compliance landscape.