Fun

KPMG Introduces Cryptocurrency Management Platform

News Feed - 2020-06-25 05:06:14

KPMG Introduces Cryptocurrency Management Platform


KPMG has launched a cryptocurrency management platform designed to accelerate institutional crypto adoption. KPMG’s patent-pending tool aims to bridge traditional data and crypto systems, integratingkey use cases of cryptocurrency, including custody, wallets, and anti-money laundering (AML) transaction monitoring.KPMG’s Crypto Suite


KPMG LLP announced on Monday that it has launched a “New platform [that] addresses global regulatory concerns for strong system controls and processes for crypto and digital assets.” Called KPMG Chain Fusion, the new cryptocurrency platform aims “to help manage crypto and traditional assets over public and private blockchain networks,” the announcement details. KPMG LLP is the U.S. member firm of KPMG International, one of the Big Four accounting firms, which has more than 219,000 professionals working in 147 countries and territories.


The firm described this product as “a patent-pending suite of advanced analytics capabilities built on leading cryptoasset data and technology products to streamline the ability for financial services companies and fintechs to offer cryptoasset services on an institutional scale,” adding:KPMG Chain Fusion is designed to accelerate trusted adoption of core cryptoasset capabilities through a consistent data architecture.


The new cryptocurrency platform “enables advanced analytics” for key use cases of cryptocurrency, including custody, wallets, “proof of reserves (asset position reconciliation), and AML transaction monitoring,” the firm outlined.The new KPMG cryptocurrency management tool, Chain Fusion, aims to accelerate the adoption of core crypto capabilities.




While many financial service institutions and fintech firms are already offering crypto services, KPMG emphasized that an increased number of traditional businesses are now offering crypto services on “both public, permissionless and permissioned blockchains.” The firm’s website elaborates:The operation of a successful cryptoasset business at institutional scale hinges on the ability to efficiently and effectively integrate blockchain data alongside traditional data infrastructure.


Sam Wyner, director of the KPMG Cryptoasset Services team, noted that while leading crypto technology solutions “can address process and control requirements within their own systems, the greater challenge is making sure systems can work together.” That’s where the firm’s new crypto management platform comes in. According to Wyner, “KPMG Chain Fusion addresses those challenges by bringing these systems together with the required processes and controls under one roof.”


What do you think about KPMG’s cryptocurrency management platform? Let us know in the comments section below.83% of Bitcoin Addresses Currently Profitable, Says GlassnodeNEWS | 23 hours agoJim Rogers Discusses Bitcoin as Money and Why Governments Will Stop CryptoNEWS | 1 day agoTags in this storyaudit firms, Big Four, kpmg bitcoin, kpmg crypto, kpmg crypto assets, kpmg cryptocurrency, kpmg cryptocurrency system


Image Credits: Shutterstock, Pixabay, Wiki Commons, KPMGSpot-markets for Bitcoin, Bitcoin Cash, Ripple, Litecoin and more. Start your trading journey today here.Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.Read disclaimer Show comments

News Feed

Brazil poised to launch world’s first spot Solana ETF ahead of global markets
Zoltan Vardai11 hours agoBrazil poised to launch world’s first spot Solana ETF ahead of global marketsAccording to IBM’s former blockchain growth lead, a potential Solana ETF approval in the US could act as a signifi
Indian Minister Inaugurates Blockchain Center of Excellence in Bengaluru
Indian Minister Inaugurates Blockchain Center of Excellence in Bengaluru A Centre of Excellence in Blockchain Technology has been inaugurated by Indian Union Minister Ravi Shanka
Kenya drops Worldcoin probe — ‘No further police action’
Helen Partz23 minutes agoKenya drops Worldcoin probe — ‘No further police action’After suspending Worldcoin operations in August 2023, Kenyan authorities have finally dropped a probe against the firm, potentially p
Brazilian Exchange Bitpreco to Expand to Banking Services; Bets on Cashback to Counter Crypto Fears
Brazilian Exchange Bitpreco to Expand to Banking Services; Bets on Cashback to Counter Crypto Fears Bitpreco, a Brazilian cryptocurrency exchange, has decided to extend its functio
Ethereum Reclaims $2,444 Level – Bullish Continuation In Focus
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Bitcoin Runes reclaim dominance over BTC transactions
Arijit Sarkar13 hours agoBitcoin Runes reclaim dominance over BTC transactionsRunes recovered to account for the lion’s share of transactions on the Bitcoin network.2321 Total views15 Total sharesListen to article 0:00
BTC price drops to 1-week low as traders focus on Bitcoin whales, Nvidia
William Suberg8 hours agoBTC price drops to 1-week low as traders focus on Bitcoin whales, NvidiaBitcoin shows signs of strain amid heavy overhead BTC price resistance and overheated funding rates.3801 Total views4 Total
Nigerian Central Bank Freezes Bank Accounts of Fintech Firms, Accuses Them of Violating Forex Regulations
Nigerian Central Bank Freezes Bank Accounts of Fintech Firms, Accuses Them of Violating Forex Regulations The Central Bank of Nigeria (CBN) reportedly frozen ban
A few lessons I learned as an institutional trader
Chris Newhouse7 hours agoA few lessons I learned as an institutional traderAs an institutional trader, I learned not to borrow too much in leverage from the exchange I was trading on, and to be right more often than I wa
Pantera Capital on Bitcoin: We’re in Next Bull Market Cycle
Pantera Capital on Bitcoin: We"re in Next Bull Market Cycle Crypto-focused investment firm Pantera Capital says bitcoin has seen its lows and “we’re in the next bull
Tom Mitchelhill5 hours agoSui token struggles to regain despite denial of ‘unfounded’ allegationsThe price of the SUI token plummeted after allegations of supply manipulation from regulatory officials in South Korea.
Report: Tweaks to South African Tax Filing System to Result in Decreased Crypto Arbitrage
Report: Tweaks to South African Tax Filing System to Result in Decreased Crypto Arbitrage Reports from South Africa suggest that tax authorities have plugged a l