KPMG Forms Alliance With Coin Metrics To Attract Institutions To Cryptocurrencies
One of the largest audit firms in the world, KPMG LLP today announced a strategic partnership with cryptoanalytic firm Coin Metrics. Together they will provide data services focused on the distribution of cryptocurrencies and blockchain to institutional investors..
As part of the alliance, Coin Metrics’ set of institutional products will be integrated with the KPMG Chain Fusion service. Among other things, the solution will include FARUM tools for risk management in blockchain networks and ATLAS for data collection from Coin Metrics.
“The integration of Atlas and Farum with KPMG Chain Fusion will provide a trusted foundation for digital asset distribution,” KPMG said. “Farum is a significant breakthrough for custodians and exchanges that are exposed to blockchain risks that could impact their business.”.
Earlier, KPMG analysts expressed the opinion that institutionalization is a prerequisite for unlocking the full potential of cryptocurrency assets..
Later, they also referred to the number of such conditions as stopping a series of hacks of crypto exchanges. “Institutional investors will not take the risk of owning crypto assets if their value cannot be protected in the same way as traditional money, stocks and bonds,” they wrote..
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