KPMG in the Cayman Islands can help you navigate this rapidly evolving asset class.
Cryptoassets (or crypto) have garnered significant attention from the media, financial analysts, governments, regulatory institutions and investors over the last year and a half.
Crypto is defined broadly as digital units of account in which cryptographic techniques are used to regulate the generation and distribution of units on a blockchain. In practice, crypto means multiple things to different people: an investment asset class like commodities, a store of value like gold, a legitimate medium of exchange, a covert method of exchange, an immutable record of rights and ownership or even an incentive mechanism like rewards points.
Cryptoassets have potential. But to realize this potential, institutionalization is needed. Institutionalization is the at-scale participation in the crypto market of both traditional and emerging players within the global financial services ecosystem. We believe institutionalization is a necessary next step for crypto to create trust and scale.
So what steps should organizations take to start their crypto journey?