Investments in the crypto space skyrocketed in 2021. Globally, crypto projects attracted more than $30 billion, compared to $5.4 billion in 2020. In the Pulse in Fintech report, KPMG points to an “incredible increase in the recognition of crypto’s potential in fintech. According to multinational accounting firm ‘Big Four’, KPMG saw 2021 a rising interest in crypto and blockchain in the fintech world. Established institutional players explored the role crypto can play in financial services.In 2021, investors really started to get used to the blockchain space – not just by seeing the potential value it today, but also to open up to the possibilities of tomorrow.In addition, there is a growing interest in the broad spectrum of blockchain possibilities, the company said.Regulation technology and cybersecurity are just some of the industries exploring crypto solutions. However, the year saw a huge divergence in the way different jurisdictions use cryptocurrencies. regulate assets. While most western countries welcomed innovation, China banned all crypto assets. India took steps to follow suit and introduced a bill that would ban crypto payments. Outlook for 2022 For 2022, the report predicts a continued rise in interest and investment in the crypto world, from both private and institutional investors. Brian Heaver, CEO of KPMG says: This was arguably one of the most significant years ever for crypto in terms of retail adoption and investment. The report also predicts increased collaboration between crypto firms and regulators. Stablecoin issuers will also become more transparent with reserves, the report suggests. There’s an incredible number of companies trying to do a lot of things in the crypto and blockchain space right now – and while we don’t know where all their efforts are going, there’s a ton of curiosity and interest in the possibilities Web 3 tech will be too. take center stage, with companies scrambling to discover how blockchain can make this happen. Web 3 refers to a version of the Internet built on decentralized protocols. However, investors are still very likely to see continued volatility in the space. Crypto markets are still developing and in the testing phase. KPMG and Crypto KPMG is a global network of professional companies providing audit, tax and advisory services. Recently, the company made news by adding Bitcoin and Ethereum to its balance sheet. The company said the investment reflects its belief in the institutional adoption of crypto and blockchain. SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and get $100 Free and 10% Off Fees on Binance Futures First Month (Terms and Conditions). PrimeXBT Special Offer: Use this link to register and enter POTATO50 code to get 25% off trading fees.
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