More

    Blockchain investments show double hike in the year 2021, KPMG report

    Blockchain investments show double hike in the year 2021, KPMG report 

     

    Investments in cryptocurrency and blockchain are growing at a rapid pace as investor sentiments soar, according to a newly published report by accounting firm KPMG.

     

    The report titled “Pulse of Fintech H1 2021” covers all global investment activities from financial institutions and technology verticals in the first half of 2021. A total of 2,456 investment deals have been done, worth $98 billion in between January and June 2021. Among fintech trends for 2021, the report has listed an “explosive growth” in cryptocurrency and blockchain investments.

     

    548 investment activities, including mergers, private equities, venture capitals and acquisitions, were witnessed in the first six months of 2021 within the blockchain and crypto sectors. The full value of investments till June 2021 is $8.7 billion, which is already double the value of 580 investment deals in the year 2020, worth $4.3 billion.

     

    Companies that secured over $100 million in various funding rounds, including Paxos, Bitso, BlockFi and Blockchain.com, fueled growth in investment volume.

    Anton Ruddenklau, PMG global fintech co-leader, said that a lot is going on, including Facebook’s Diem, between the eCNY project in China, many ecosystem initiatives and various other trading platforms raising money. Ruddenklau stated that digital currencies and assets are a “big, big topic of conversation,” adding that for the entire year, cryptocurrency will be a “very hot ticket” for investors.

     

     

    KPMG’s report points that rising investor awareness is the primary driver in the investment growth of cryptocurrencies, detailing that investors, better than ever, now have a greater understanding of crypto assets and the operational procedures of the digital currencies. Investor knowledge has been growing in storekeeping, storage, maturity and competitiveness of service providers, the report marked.

     

    KPMG report also confirmed that the cryptocurrency space “would mature” more and that the distinction between blockchain technology and crypto would get even more substantial. Nonfungible tokens (NFT) would continue their contribution towards the evolution of cryptocurrency exchange.

     

    The report has concluded that regulatory frameworks from international governments are on the forecast for 2021; specifically, if the Indian government regulates crypto as “an asset class”, the whole crypto ecosystem would be impacted.

    Stay in the Loop

    Get the daily email from CryptoNews that makes reading the news actually enjoyable. Join our mailing list to stay in the loop to stay informed, for free.

    Latest stories

    - Advertisement - spot_img

    You might also like...