A recent report claims that investments in the blockchain and crypto sector are on the increase and have already doubled the total amount from last year. According to Big Four accounting and audit firm, KPMG, investor interest is the ingredient behind the spike.
KPMG’s report titled “Pulse of Fintech H1 2021” highlights investment specifics across the financial technology sector between January and June. According to the report, players in the sector secured 2,456 investment deals, worth $98 billion.
For the crypto and blockchain sector, the first half of 2021 saw at least 548 investment moves. These moves include mergers, acquisitions, private equities, and venture capital efforts. KPMG states that the total value of all first-half investments hit $8.7 billion. The figure is double the $4.3 billion recorded in 2020, across 580 investment deals.
According to Anton Ruddenklau, the global fintech co-leader at KPMG, there is a lot going on in the crypto space. Anton mentioned Facebook’s Diem, China’s upcoming central bank digital currency (CBDC), and other platforms trading and raising money. The co-leader added that:
“Digital currencies and virtual assets are a big, big topic of conversation. I think for the rest of this year at least, crypto will be a very hot ticket for investors.”
The report also says that the crypto space will continue maturing with time. It adds that nonfungible tokens(NFT) will get bigger and would considerably help crypto exchanges evolve into NFT trading platforms.
Image Credits: Pixabay
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