KPMG reports record US Blockchain Investments in 2018 first half


KPMG auditing firm reports record US Blockchain Investments in 2018 first half. The company has noted that investments were mostly focused on experienced firms and consortia that “sought additional rounds of funding.”

1 August, AtoZ Markets The latest analysis from KPMG indicates that Blockchain investment in the US in the first half of 2018 has bypassed the overall that has been recorded in 2017. 

KPMG reports record US Blockchain Investments in 2018 first half

The biannual report from KPMG “The Pulse of Fintech” has been released yesterday. In this report, the auditing firm suggests that Blockchain technology is “moving beyond experimentation” to attract significant attention from investors in the first six months of 2018. The company has highlighted that investments were mostly focused on experienced firms and consortia that “sought additional rounds of funding, rather than on market entrants.”

The report also highlights the peer-on-peer payments from Circle’s $110 million rounds that have been led by Bitman. The KPMG also singled out the $77 million funding for cryptocurrency wallet Ledger in France in the number of “good-sized” funding rounds in Q1 2018.  

Some other key takeaways from the report comprise the fact that the banking consortium R3 has improved its mandate to include insurance companies. In addition, the major insurance organization B3i has restructured its internal processes in a bid to commercialize its outputs. 

ICO Market Continues to Develop

KPMG went on to say that initial coin offerings (ICOs) industry continues to develop in spite of some restrictions set out in some of the countries, such as China. The report notes the Cayman Islands-based EOS developer Block.one and its progress regarding its year-long token sale. The KPMG stated that the company has been able to raise $4 billion, thus breaking an industry record. 

Furthermore, the report mentions the investments in the UK-based online bank Revolut, which has added an option to transact in cryptocurrencies back in December 2017. The brokerage application called Robinhood has also been highlighted in the report, with the KPMG adding that it has “raked in one of the largest deals in the first half of 2018.” In May 2018, the brokerage managed to raise $363 million to expand its cryptocurrency trading platform across the US. 

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