KPMG Analysis Show USA Blockchain Investment In 2018 Passes All of 2017’s Total

A new analysis made by KPMG shows that the blockchain investment in the United States in the first half of 2018 has already surpassed the total seen in 2017. The information was released on the biannual The Pulse of Fintech report, which was released on July 31.

KPMG is one of the largest auditing firms of the world and, together with Deloitte, Ernst & Young and PwC, it is part of the “Big Four”. The company suggests that the blockchain is finally moving beyond the first stage of experimentation and that it has drawn significant attention from institutional investors in the first half of the year.

According to KPMG, fewer startups and more experienced firms started to invest in blockchain in this year and rather than getting funds for entering the market, these companies sought additional funds to implement technology.

The Top Fundraisers

The report singles out some companies as the ones that got “good-sized” funding rounds in the first quarter of 2018. One of them is Circle, a P2P payment platform that had a round of $110 million USD and others are the mining hardware giant Bitmain and the crypto wallet Ledger. On the US alone, the investment is higher than in the whole last year.

Another company that is highlighted is Revolut, a UK-based challenger bank that raised $250 million USD this April and Robinhood, which raised $363 million USD in May.

It is also relevant that many blockchain consortiums have organized to commercialize blockchain solutions and have grown a lot in this year. Examples are the banking consortium R3 and the major insurance consortium B3i.

Initial Coin Offerings

KPMG notes that ICOs continued to flourish this year despite countries like China banning them and others, like the United States, causing major issues for ICOs that accepted non-accredited investors. During the first quarter of the year the industry had a record-breaking fundraising of $4 billion USD.

The report also showed that US-based fintechs have seen a spike in venture capital funding during this year.

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