crypto

Crypto Investment Rises By 100% In 2021

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BLOCKCHAIN investment and cryptocurrency in the first half of 2021 hit a high of more than 100% of what was recorded in 2020, a report by KPMG says.

In its “Pulse of Fintech H1’H21’ report, KPMG said key Q2’21 highlights in the crypto and blockchain space included evolving nature of investors.

“As the blockchain and crypto sector has matured, so has the nature of its investors,” the report said.

The report stated that “in H1’21, a significant amount of institutional money flowed into crypto space, highlighting the broadening of the investor base.”

According to the report, investor awareness and knowledge of the sector is growing, with investors now having a much better understanding not only about crypto assets, but also operational and procedural sides of crypto- from custody and storage to store keeping and the competitiveness and maturity of service providers.

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The report added that companies raised over $100m funding rounds in the first half of the year that included BlockFi ($350m), Paxos ($300m), Blockchain ($300m) and Bitso ($250m).

In the report, it was stated that China is leading the Central Bank Digital Currency drive with its digital currency test in the first half of 2021.

China, according to the report, expanded its pilot project to include salary payments for workers in its Xiong’an New Area, subway payments and exchange of digital and physical currencies at two banks situated In Beijing.

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