Cryptocurrency is "a big deal", but requires institutional investments, says the KPMG Report


The auditor & # 39; Big Four & # 39; Headquartered in the Netherlands, KPMG published a bullish cryptocurrency report on 15 November. The report claims that institutional investors must join the industry to "realize its potential".

The report, called "Institutionalization of Cryptoassets", focuses on why and how institutional investors should enter cryptocurrency, along with the "challenges" that the process must face and under what circumstances cryptography could become a "full asset class" .

"Cryptoassets have potential, but to realize this potential, it is necessary to institutionalize", the authors of the report say, continuing:

"Institutionalization is the large-scale participation in the encrypted market of banks, broker brokers, exchanges, payment service providers, fintech and other entities in the global financial services ecosystem." We believe this is a next step. necessary for crypto to create trust and scalability. "

As previously reported by Cointelegraph, KPMG has traditionally focused on managing the risk of blockchain technology, adopting a cunning view of cryptocurrency in its early years, along with other major auditors.

The tone of the last publication represents a slight pivot in the meantime, the company in particular avoids the "crypto-bashing" narrative repeated this month by entities including the European Central Bank and the Bank of International Settlements.

For KPMG, crypto is a "big problem" and "worth paying attention to".

"[C]rypto continues to collect both good and bad press, and the debate between supporters and detractors is far from being resolved, "the report continues:

"In 2018, we are witnessing a wave of new players in the market, such as security platforms for tokens, stablecoin and even established financial services institutions that are launching cryptographic products and services, cryptoassets are now impossible to ignore."

Various other sources have also supported their prediction that cryptocurrency fortunes will reverse upwards after the entry of institutional investors, expected to begin next month with the launch of the Intercontinental Exchange (ICE) trading platform, Bakkt.

The release of the KPMG report coincided with a sudden rapid decrease in the price of all major cryptocurrencies, partly due to uncertainty over the future of the Bitcoin Cash crypto, currently the fourth largest asset encrypted by market capitalization.

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