Tokyo-based financial technology firm pafin announced this week that it is bringing its flagship cryptocurrency calculation service for tax filing to the Canadian market.
Pafin, founded by former Goldman Sachs executives Amin Azmoudeh and Gaku Saito, is the provider of cryptact, which leverages institutional-level expertise to deliver accurate and efficient crypto tax solutions, according to the co-CEOs.
“As a trusted partner for cryptocurrency users in Canada, we will expand support for additional cryptocurrencies, exchanges, and blockchains while introducing new features to further enhance our user experience,” stated Azmoudeh.
Before “retiring” in 2017 to launch cryptact, Azmoudeh had worked his way up the ladder at Goldman Sachs in Tokyo since graduating with a B.S. in Computer Science and a B.A. in Japanese from the University of Maryland in 2003.
Similarly, Saito climbed the ranks at Goldman since completing his Master’s degree in Environmental & Ocean Engineering in 2007 from the University of Tokyo. He joined Azmoudeh as co-CEO of pafin in 2019.
Since 2017, cryptact has been a trusted crypto tax service in Japan, serving more than 150,000 users. The platform currently supports 24,000 cryptocurrencies across 137 exchanges and blockchains.
Through cryptact, users can calculate capital gains, losses, and income for exchanges, DeFi, and NFTs, and import up to 100,000 transactions per year, according to Azmoudeh.
A hundred thousand transactions? Thankfully, the work is done on your behalf—by inputting a wallet address, Azmoudeh says cryptact will automatically import all history and even identify transaction types.
“We are committed to continuously improving our services to meet the evolving needs of our users,” he said.
The calculations utilized by cryptact for Canada’s tax market were developed in collaboration with Surrey-based crypto accounting firm MetaCounts.
To celebrate the Canadian launch, cryptact is offering a 50% discount on paid plans until the end of April.
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