KPMG, Coin Metrics and BitGo offer combined product suite to further institutional crypto adoption

Feb 18, 2021 | The Block News | 0 comments


Auditing giant KPMG and crypto data firm Coin Metrics are enabling BitGo clients to monitor public blockchain network risks.

The three firms are together delivering a combined suite of their products — and the idea is to further crypto adoption by institutions and banks.

Coin Metrics and KPMG began working together on institutional crypto adoption last year when the two entered a “strategic alliance.” This suite of products for BitGo clients also has components designed to increase institutional adoption, according to BitGo.

“Through this collaboration, we will be delivering the products and services that our institutional clients have needed to allow broad adoption of digital assets,” said Pete Najarian, Chief Revenue Officer BitGo in a statement.

The product suite will include KPMG’s Chain Fusion services, a suite of blockchain analytics tools for business, risk and compliance. BitGo, a digital asset custody platform, provides its custody technology and solutions.

Coin Metrics’ institutional data rounds out the offering. It’s also launching a new product as part of the suite, dubbed FARUM. FARUM is a risk management product that enables the identification of network attacks, fee volatility risks and unusual network event risks.  

Together, the combined products aim to deliver core capabilities for institutions and banks without some of the onerous step-by-step compliance and risk integrations, according to KPMG. 

“We are thrilled to launch a combined offering to market, which marks a significant step forward in uniting core capabilities for custody, data and risk/compliance and security through an integrated solution,” said Arun Ghosh, Principal and KPMG Head of Blockchain for One Americas in a statement.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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