KPMG Launches Crypt Management Suite for Fintech Companies that Want to Operate at the Institutional Level

The audit firm KPMG, one of the big four, launched a crypt management suite with analytical features.

According to a June 22 announcement, KPMG’s new Chain Fusion suite is intended to enable financial technology companies (FinTech) to more easily offer cryptology services on an institutional scale. The news follows a report by KPMG indicating that institutional custody services are of paramount importance.

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Ensure compliance of Cryptotech companies
Cryptoactives work very differently from traditional assets in terms of technological infrastructure, operational mechanics and inherent risks. These differences translate into data management challenges that are sufficient to meet customer account management, anti-money laundering and security requirements.

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KPMG Chain Fusion aims to address the problems caused by the way cryptoactives are compared to their traditional versions. Director and co-director of the company’s crypt services team, Sam Wyner, said:

„Regulators and auditors expect fully implemented controls and processes within and across a cryptology business – whether cryptoactive or traditional systems or anything in between.

KPMG backs Blockchain

KPMG is increasingly investing in services related to Ethereum Code technology. Cointelegraph reported in late 2019 that the company launched a tracking platform based on this technology in Australia, China and Japan.

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In January, KPMG also predicted that the Internet and Blockchain technology will be used together to manage the consequences of climate change.