KPMG LLP, BitGo, Inc and Coin Metrics Inc. have announced a combined offering and the commercial launch of Coin Metrics’ FARUMTM to enable BitGo’s existing and future clients to actively monitor and manage public blockchain network risks.
The collaboration will bring KPMG Chain Fusion services, capabilities and accelerators, BitGo custody technology, and Coin Metrics’ data and intelligence products to market through a deeply integrated offering. The combined offering will collapse implementation cycles and deliver core capabilities for financial institutions and banks to help them offer crypto and digital assets products with confidence, leveraging execution supported by established experience in system integration, risk, compliance and control patterns.
“We are thrilled to launch a combined offering to market, which marks a significant step forward in uniting core capabilities for custody, data and risk / compliance and security through an integrated solution,” said Arun Ghosh, Principal and KPMG Head of Blockchain for One Americas. “FARUMTM presents a new level of public blockchain intelligence that is transforming institutional risk management in public blockchains. We are thrilled to realize the opportunity to launch this offering together with BitGo and Coin Metrics.”
KPMG and Coin Metrics formed a strategic alliance in October 2020 that pairs Coin Metrics’ full-suite of institutional data products and infrastructure with KPMG Chain Fusion, a patent pending suite of capabilities announced in June 2020.
"This is the perfect time to offer a world class, consolidated product suite to the marketplace and we are delighted to be joining KPMG and Coin Metrics in this effort. Through this collaboration, we will be delivering the products and services that our institutional clients have needed to allow broad adoption of digital assets,” said Pete Najarian, Chief Revenue Officer BitGo.
The combined offering includes a suite of complementary products and services designed to enable the increasing institutional adoption of cryptoassets and public blockchains.
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Coin Metrics is the leading provider of crypto financial intelligence, providing network data, market data, index and network risk solutions to the most prestigious institutions touching cryptoassets.
Coin Metrics was founded in 2017 as an open-source project to determine the economic significance of public blockchains. Today, we expand on that original purpose to empower people and institutions to make informed crypto financial decisions. We aim to usher the world’s premier financial institutions into crypto with the most trusted data and insights.
FARUMTM and ATLASTM are the newest offerings in Coin Metrics’ crypto intelligence suite.
BitGo is a leading provider of capital markets infrastructure for cryptocurrencies. BitGo is the only digital asset company that has been focused exclusively on serving institutional clients since 2013. BitGo secures approximately 20% of all on-chain Bitcoin transactions by value and supports more than 300 assets within its platform. BitGo is the security and operational backbone for more than 400 institutional digital asset market participants in 50 countries, including many of the world’s top cryptocurrency exchanges and platforms. In addition, BitGo plays a key role in the market via BitGo Trust, with regulated custodial entities in the United States and Europe. Active in both centralized and decentralized finance, BitGo offers market leading trading, lending, and borrowing services through its prime brokerage business and acts as the custodian for WBTC, with more than $5 billion in custody and circulation. BitGo is backed by the most prominent Wall Street investment banks, proprietary trading firms, Silicon Valley VCs, and digital asset investors, including Goldman Sachs, DRW, Jump Capital, Galaxy Digital, Craft Ventures, Redpoint Ventures, and Valor Equity Partners.