#Abu Dhabi #United Arab Emirates #Digital Assets #ZenLedger #Sui Blockchain

ZenLedger Expands Services on Sui Blockchain

ZenLedger, renowned for its precision in digital asset tax and accounting compliance, has recently unveiled its enterprise support on the Sui blockchain during Abu Dhabi Finance Week. This expansion is a significant milestone, as Sui, a leading Layer-1 blockchain, is acknowledged for its remarkable speed and scalability. By merging ZenLedger's robust tax and accounting software with Sui's potent capabilities, the company aims to provide top-tier solutions to institutions, enterprises, and developers worldwide.

With this collaboration, businesses on Sui can now leverage IRS-grade reporting systems that streamline digital asset governance and regulatory compliance. Features include automated workflows for tax forms, cost-basis methodologies, and tools for tax loss harvesting, all tailored to facilitate seamless tax reconciliation across multiple wallets.

Adeniyi Abiodun, the Chief Product Officer at Mysten Labs—Sui's original developer—emphasizes that Sui is becoming increasingly attractive to institutions due to its readiness to accommodate their requirements. The integration of ZenLedger into Sui's ecosystem enables enterprises to adopt efficient compliance and reporting structures essential for transitioning to blockchain technology with confidence.

Global Reach and Institutional Support

ZenLedger stands out as the only IRS-contracted crypto tax accounting partner, providing its services across more than 100 countries. The platform supports over 300 exchanges and 40 blockchains, catering to a diverse array of digital assets, including DeFi assets and stablecoins. Notably, ZenLedger collaborates with over 75 institutional clients and serves a network of around 7,000 tax professionals, ensuring ample expertise and assistance for businesses engaging with digital currencies.

Pat Larsen, the CEO, and Co-Founder of ZenLedger expressed pride in supporting Sui's growing global ecosystem. He highlighted the necessity for blockchain infrastructures that focus on accuracy and adhere to regulatory standards. With ZenLedger's integration into Sui, enterprises are empowered to operate internationally while meeting the expectations of regulatory bodies.

Advancements in Compliance Standards

Institutions utilizing the Sui blockchain can look forward to enhanced compliance solutions and reporting mechanisms that reflect the ongoing demands of the market. These offerings include:

• - Automated workflows for tax and accounting.
• - Live customer service and optional CPA support for personalized guidance.
• - Employee trade monitoring protocols alongside an integrated code of ethics with Comply, a notable compliance management platform supporting $11 trillion in assets under management.
• - A robust API and iFrame infrastructure for comprehensive tax center reporting.
• - On-chain audit and forensic tools tailored for investigators and government bodies.

Shane Shin, a founding partner at Shorooq, a MENA investment firm involved with ZenLedger, articulated the increasing global demand for digital asset infrastructures aligned with regulations. He believes that the strategic collaboration between ZenLedger and Sui offers the essential foundation for institutions aiming to operate across borders securely and transparently.

Enhancing Institutional Adoption

The integration is anticipated to accelerate the institutional uptake of the Sui blockchain, particularly across key regions such as the Middle East, Asia Pacific, Europe, and North America. The focus will remain on ensuring regulatory compliance, operational integrity, and readiness for enterprise deployment. As ZenLedger and Sui push the boundaries of what's possible in the blockchain space, it sets the stage for a future characterized by clearer regulatory frameworks and more efficient operational practices.

In conclusion, ZenLedger continues to position itself at the forefront of digital asset management and compliance, fostering a new era of enterprise-grade capabilities on the Sui blockchain. As digital assets become increasingly central to financial systems, the need for reliable, effective tax and compliance solutions will only grow, making such integrations crucial for businesses navigating this evolving landscape.

About ZenLedger

Founded in 2017, ZenLedger has established itself as a premier platform for digital asset tax, accounting, and compliance. The company's emphasis on real-time accuracy for reporting and governance has made it a trusted partner for tax professionals and institutions globally. Its investor roster includes prominent figures like Mark Cuban, further validating its market presence and credibility.

About Sui

Sui is an innovative Layer 1 blockchain that redefines digital asset ownership through its object-centric model powered by the Move programming language. Sui aims to offer unparalleled speed and efficiency, making it a compelling choice for developers and businesses alike in the blockchain ecosystem.