Cryptocurrency investment soared in 2021.
Crypto projects have attracted more than $30 billion, compared to $5.4 billion in 2020.
In her report titled “Pulse in Fintech”, she noted “KPMG“This has led to an astonishing increase in interest and recognition of the potential of cryptocurrency in financial technology.
According to the multinational accounting firm KPMG, the year 2021 saw an increased interest in cryptocurrency and blockchain in the fintech world.
Players and institutions explored the roles crypto could play in financial services.
During 2021, investors are starting to really acclimatize to the blockchain space by seeing its many possibilities and not only seeing the potential value it offers today, but also being open to future possibilities.
There is growing interest in a wide range of blockchain opportunities as well, according to the same report.
Regulation, connectivity, and cybersecurity are just some of the industries that are exploring crypto solutions.
This year has seen a great deal of variation in how crypto assets are organized.
While most Western countries have welcomed innovation, China has banned all cryptocurrencies.
India has taken steps to follow suit, introducing a bill that would ban crypto payments.
Crypto market forecast in 2022:
For 2022, the report anticipates a continued rise in interest and investment in cryptocurrency, both from individual and institutional investors.
Brian Hever, Managing Director of KPMG, says:
This year will arguably be one of the most important years ever for cryptocurrencies in terms of adoption by retail investors.
The report anticipates increased cooperation between crypto companies and regulators.
Stablecoin issuers will also begin to be more transparent with regulators, the report notes.
There are 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 will go, there is a lot of curiosity and interest in the possibilities available.
Web 3.0 technologies will also be in focus, as companies scramble to discover how the blockchain can achieve this.
However, investors are still likely to see continued volatility in the space.
Crypto markets are also still developing and are in the testing phase.
KPMG and Crypto:
KPMG is a global network and is one of the largest professional audit, tax and advisory firms.
Recently, the company made news of adding Bitcoin and Ethereum to its balance sheet.
The company said that the investment reflects its belief in the institutional adoption of cryptocurrency and blockchain.
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