- CoinMetrics has partnered with KPMG to enable a trusted foundation for crypto adoption.
- The alliance will allow both entities to integrate their blockchain tools.
It’s agreeable to note that institutions are gradually arriving in the cryptocurrency market. This is evident enough following the recent move by the leading digital payment platform, PayPal, to enable the buying and selling of digital currencies on its platform. Today, one of the largest accounting companies in the world, KPMG, is looking to accelerate institutional adoption in the crypto ecosystem.
CoinMetrics, KPMG collaborate to drive more adoption
According to the information today, the “Big Four” accounting company, KPMG entered a partnership with CoinMetrics, a digital currency market data provider. Basically, this consortium will see the entities integrate their blockchain solutions in order to enable a convenient and trustable environment for crypto adoption. Basically, CoinMetrics will be joining its products – ATLAS and FARUM – to KPMG’s Chain Fusion.
The CoinMetrics’ risk management tool, FARUM, is geared at tracing any possible attack launched at blockchain-based platforms. It can equally be used to detect fee volatility of digital assets, as it curates data from multiple sources. CoinMetrics’ ATLAS is a blockchain-based tool that can be used by institutions to audit the transactions taking place on networks.
KPMG embraces blockchain
Following the partnership, both tools will be integrated on KPMG’s Chain Fusion, which is the company’s proprietary crypto-asset suite aimed at equipping financial companies with adequate tools to curb certain issues like money laundering. The integration prepares a trusted platform for crypto adoption, and will help exchanges and custodians to avoid certain network risk, says KPMG’s Cryptoasset Services co-lead, Sal Ternullo.
KPMG is one of the largest accounting companies actively engaged in blockchain technology. Last year, the company launched a supply chain tracking tool on blockchain dubbed KPMG Origins. At the time, the blockchain solution was launched for entities in China, Australia, and Japan. It could be used in the agricultural, goods processing, and financial sector.