Media & Press

Hoptrail and Recap secure InnovateUK grant funding to develop crypto onboarding tools

A consortium including Hoptrail and led by UK crypto tax software provider Recap has secured a £300,000 Innovate UK grant to build crypto onboarding and AML tools for professional services.

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Hoptrail CEO and Founder, Henry Burrows said:

"We're thrilled with the award, and even more excited to develop the tools we know will help thousands of professional and financial services firms. We're seeing more and more companies deal with the headache of customer onboarding when it comes to crypto, and it seems clear to us that tools are needed to build a robust, reliable, and efficient diligence process. It makes even more sense to do it with Recap, Andersen, and Wright Vigar, who have extensive crypto expertise in this area. We can't wait to get started."** * The project brings together a consortium including Hoptrail, global accounting firm Andersen LLP, and crypto tax specialists Wright Vigar, to enhance transaction processing and automate crypto asset tracking by combining existing tax and AML tools.

 * The grant from Innovate UK supports a 12-month development project, which is expected to be the first-of-its-kind automated onboarding tool for crypto services.

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