KPMG Introduces Crypto-Management Platform

KPMG Introduces Crypto-Management Platform

The Big Four audit firm KPMG has announced a patent-pending new platform that allows financial service providers to seamlessly offer crypto-asset services on a global scale. Known as KPMG Chain Fusion, it is a tool that enables clients to address complex and regulatory concerns faced in the crypto-asset market today. 

The backstory: Blockchain and crypto industry has drawn the attention of the Big Four audit firms as well. The audit firms have already worked with a number of blockchain and crypto projects to help combat the technology's regulatory and development challenges. In 2019, KPMG worked with Microsoft, Tomia, and R3 to create a blockchain solution for the telecom industry. The auditing firm has reportedly also witnessed an increase in revenues from blockchain-based products. 

What Now?

In an official release, KPMG LLC announced its cryptocurrency platform "KPMG Chain Fusion," which will help manage the operation of crypto-asset at an institutional scale. It enables a core data architecture that facilitates interaction across blockchain protocols and traditional systems. The platform further enables these key analytics to different use-cases in the cryptocurrency industry, including custody, wallets, and AML transactions. 

By integrating blockchain and traditional data on a common architecture, the platform facilitates traditional businesses to offer crypto services on different types of blockchain networks. Furthermore, the KPMG Chain Fusion allows its users to combat regulatory and compliance challenges in the crypto industry. Moreover, by offering core protocols, the latest data, and analytics, the platform allows companies to seamlessly adapt and integrate crypto within its infrastructure. 

Bottom Line: The firm’s new crypto management platform will be a supportive infrastructure for the overall development and adoption of cryptocurrency services within traditional systems and processes.

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