Bitwave

Bitwave is an enterprise back-office platform built to manage the accounting, payments, reporting, and compliance obligations that arise when corporations, institutions, and crypto-native organizations operate with digital assets. Founded in San Francisco in 2018 by Pat White (CEO) and Amy Kalnoki (COO), the company targets finance and accounting teams rather than individual retail users, positioning itself as the infrastructure layer that bridges blockchain activity with traditional financial systems.

What Bitwave Does

The platform's core function is automating the translation of on-chain activity into GAAP- and IFRS-compliant general ledger entries. Bitwave ingests transaction data from wallets, exchanges, and custodians across more than 80 blockchains and protocols, categorizes transactions according to user-defined rules, and posts journal entries directly into ERP systems — eliminating the manual spreadsheet workflows that finance teams otherwise rely on to close crypto books.

Beyond the accounting subledger, Bitwave has expanded into stablecoin payment workflows. Enterprises can issue non-custodial crypto invoices, manage cross-border B2B payments, and route approvals through configurable multi-step workflows. This positions Bitwave as an operational layer for treasury teams using stablecoins for actual business payments, not only a compliance tool used at month-end.

Core Product Areas

Onchain Accounting Subledger: Syncs blockchain, wallet, and exchange data in real time. Automated transaction categorization applies user-defined rules at ingestion, and journal entries are pushed to connected ERPs on a scheduled or on-demand basis. The subledger supports multi-subsidiary and multi-currency structures, enabling consolidated reporting across complex organizational trees.

Stablecoin Payments: Non-custodial invoicing and payment collection with configurable approval flows. Supports cross-border payments and is designed for B2B use cases where enterprises want to transact in stablecoins without relying on centralized custodians.

Institutional Reconciliation: Automated matching of on-chain transactions against open invoices and accounts receivable/payable records. A consolidated reconciliation view surfaces unmatched items and streamlines the AP/AR close process.

Crypto and DeFi Tax Tracking: Enterprise-grade cost basis calculation with support for FIFO, LIFO, HIFO, average cost, specific identification, and custom lot-level strategies. Bitwave complies with IRS account-level tracking requirements that took effect January 1, 2025, requiring cost basis to be tracked per individual wallet or exchange account rather than pooled across accounts.

DeFi Monitoring: Tracks DeFi positions, accrued protocol rewards, liquidity mining income, and point-in-time portfolio balances. The platform classifies staking rewards, liquidity fees, and airdrops as income at fair market value on receipt, generating the entries required for proper accrual accounting.

Audit-Ready Reporting: Generates GAAP/IFRS-compliant financial statements and supporting schedules. Reporting includes Reclass Reports, Actions Trial Balance, and Action Journal Entry Reports.

Solana Support

Bitwave treats Solana as a first-class supported chain. The platform auto-imports all transactions when a Solana public wallet address is connected — including token swaps, NFT trades, perpetual futures positions, and protocol interactions. Epoch staking rewards are natively tracked: Bitwave recognizes each epoch reward distribution as taxable income at the SOL fair market value at the time of receipt and creates the corresponding accounting entry automatically.

For Solana DeFi, the platform monitors accrued rewards and liquidity position balances. Capital gains and losses on SOL and SPL token disposals are calculated using the user's chosen cost basis method, and the data feeds directly into IRS Form 8949 and Schedule D generation.

Blockchain and Integration Coverage

Bitwave connects to 80+ blockchains and protocols. Supported networks include Bitcoin, Ethereum and all ERC-20 tokens, Solana, Polygon, NEAR, Base, Arbitrum, Tron, Fantom, and the Ethereum Beacon Chain, with new chains added on an ongoing basis.

ERP integrations cover the major enterprise accounting systems: QuickBooks, Oracle NetSuite, Sage Intacct, Xero, Workday, and SAP. Bitwave holds the status of the only approved Crypto SuiteCloud Developer Network (SDN) Partner for NetSuite and the only Crypto Marketplace Partner Program (MPP) integration for Sage Intacct — making it a formally recognized integration rather than an unofficial connector.

Exchange integrations include Binance, Coinbase, Gemini, Kraken, Bittrex, and Paxos. Institutional custodial wallet integrations cover Fireblocks, BitGo, Anchorage, and NYDIG. DeFi protocol coverage includes Aave, Uniswap, Compound, Yearn Finance, Maker, and SushiSwap.

Security and Compliance

Bitwave holds SOC 1 Type 2 and SOC 2 Type 2 certifications, confirming that its internal controls over financial reporting and security have been independently audited and verified. The company has also formed a strategic alliance with RSM, a top-ten US public accounting firm, to provide integrated assurance, tax, and consulting services to Bitwave customers navigating digital asset compliance.

User provisioning and deprovisioning for enterprise customers is managed through the SCIM protocol, enabling centralized identity management and access control.

Team and Funding

Pat White (CEO) and Amy Kalnoki (COO) founded Bitwave in 2018 out of San Francisco with a focus on enterprise clients from the outset. The company raised a $15 million Series A round led by Hack VC and Blockchain Capital, with participation from SignalFire, Valor Equity Partners, Arca, Pulsar Trading, and Alumni Ventures Blockchain Fund. Early enterprise customers cited at the time of the funding included OpenSea, Compound, and Polygon.

Pricing and Access

Bitwave does not publish pricing publicly. Access requires direct engagement with the sales team and a formal onboarding process. The platform is designed for organizations with dedicated finance and accounting staff — it is not targeted at individual traders or CPAs managing third-party returns.