Refundo is a leading provider of tax-related financial products and services. CoinRT is Refundo’s service that allows taxpayers to receive their federal and state tax refunds in cryptocurrencies. Last year, CoinRT only supported Bitcoin (BTC), but this year, XRP, Bitcoin Cash (BCH) and Ethereum (ETH), have been added as additional cryptocurrency options for receiving tax refunds.
According to Refundo’s announcement, taxpayers who create a Refundo CoinRT account are each assigned a unique routing and account number to input on their tax return. They are also required to provide all necessary background details for Know-Your-Customer regulations as well as their BTC, BCH, ETH, or XRP wallet address. Once the IRS or state direct deposits the tax refund into this unique account, Refundo processes the refund and the cryptocurrency is deposited into the taxpayers’ designated wallet.
“We love new technology and we’re always looking for opportunities to help our customers get access to their tax refund in a seamless manner and however they see fit,” said, Roger Chinchilla, CEO at Refundo. “When we launched support for Bitcoin last year, we knew we were just getting started. Cryptocurrencies are increasingly faster, lower cost, and fit the need of the underbanked. We are pleased to be able to support BCH, ETH, and XRP and look forward to adding other cryptocurrencies in the near future.”