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KPMG, BitGo, Coin Metrics Launch New Offering to Drive Institutional Adoption

One of the "big four" professional services firms has launched a product suite with two other cryptocurrency firms with an eye on serving institutional demand in crypto.

Feb 18, 2021 at 7:02 p.m. UTC
Updated Sep 14, 2021 at 12:13 p.m. UTC

KPMG, BitGo and Coin Metrics announced Thursday a combined offering that seeks to manage and monitor risks on public blockchain networks.

The offering combines KPMG's Chain Fusion services and accelerators, BitGo's custody technology and Coin Metrics’ data and intelligence products via a "deeply integrated combined offering."

Coinciding with the firms' offering, Coin Metrics also announced the commercial launch of a new suite of products known as FARUM providing BitGo’s existing and future clients the ability to monitor and manage risk on networks like Bitcoin and Ethereum.

FARUM seeks to provide users with the tools to identify network attacks, transaction reorgs, fee volatility risks and unusual network event risks, according to the firm's website.

The combined offering is the result of a strategic partnership between KPMG and Coin Metrics that was formed in October. The alliance seeks to deliver data and insights, proprietary analytics and crypto-asset services to support growth in institutional adoption.

The alliance also pairs Coin Metric's suite of institutional data products and infrastructure with KPMG's Chain Fusion, a suite of tools designed to provide customers a way of handling financial reporting regulations.

The firms said their offering also "collapses implementation cycles" while delivering core capabilities for financial institutions by leveraging their experience in system integration, risk, compliance and control patterns.

"[This] marks a significant step forward in uniting core capabilities for custody, data and risk/compliance and security through an integrated solution," said Arun Ghosh, head of crypto assets at KPMG.

Ghosh added he thinks FARUM represents a new kind of public blockchain intelligence that is "transforming" institutional risk management.

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