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BGL to accept crypto as payment

By July 26, 2022August 9th, 2023Accountants Daily, In the Media, News

Written by Josh Needs
Published by Accountants Daily
on 26 July 2022
Click here to read on Accountants Daily website

Digital currency can now be used for subscriptions to the company’s management software.

BGL Corporate Solutions will now be accepting bitcoin as payment for subscription to its suite of software, CAS 360, Simple Fund 360 and Simple Invest 360.

Managing director of BGL, Ron Lesh, said the firm was pleased to be accepting cryptocurrency.

“We are very excited to offer our clients the option to pay their annual software subscriptions with Bitcoin”, said Mr Lesh.

He said that the company’s ability to accept crypto as payment was developed through BGL’s collaboration with cryptocurrency exchange Cointree.

“From today, BGL clients will be able to pay into our crypto wallet thanks to our partnership with Australia’s own cryptocurrency exchange, Cointree,” said Mr Lesh.

“Clients will simply click a link on our invoices and complete the transfer.

“With cryptocurrency continuing to grow in popularity, our partnership with Cointree provides an easy way for BGL to offer subscription payments in cryptocurrency.”

BGL said the latest development with Cointree came after they had partnered to provide Simple Fund 360 and Simple Invest 360 an easy way to process cryptocurrency transactions, value and keep track of their portfolio, and help with the calculation of CGT events for SMSFs, trusts, companies and individuals.

Chief executive of Cointree, Jess Renden, said the exchange was delighted to partner with an innovative business like BGL.

“We’ve been helping Australians access crypto since launching in 2013 and are proud to partner with a forward-thinking organisation like BGL,” said Ms Renden.

“Consumers have embraced cryptocurrency in recent years and it’s becoming more common for people to use it as a means to pay bills, so when BGL wanted to offer its customers to pay bills our team were ready to help find a solution.”

The partnership between the two companies has also expanded into co-developing Australian-based software to provide a daily price feed for several cryptocurrencies.

Called NBOC, BGL said it was a daily automated data feed that provided both Simple Fund 360 and Simple Invest 360 clients with up-to-date prices for cryptocurrency and was suitable for SMSFs, companies, trusts and individuals.

Founded in 1983, BGL Corporate Solutions has grown to become one of the largest developers of compliance software in the world, with more than 180 employees globally.

BGL provides cloud-based company compliance management, SMSF and portfolio administration software to over 8,000 businesses in 15 countries.

Cointree launched in 2013 and operates as one of Australia’s largest cryptocurrency exchanges, handling over $250 million in transactions.


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