Auditing firm KPMG and crypto data firm Coin Metrics have announced offering BitGo clients to monitor public blockchain network risks. The three firms will collaborate through the launch of integrated product suites. As part of the suite, a new product will be also launched called the Coin Metrics’ FARUM. It is a risk management product that enables the identification of network attacks, fee volatility risks, or unusual network event risks. The idea behind the move is to further crypto adoption for institutions and banks.
KPMG, BitGo, Coin Metrics Collaborates On Integrated Product Offering
The collaboration will bring KPMG Chain Fusion services, a suite of blockchain analytics tools, BitGo custody services and solutions, and Coin Metrics’ institutional data and intelligence products for the integrated offering.
In the announcement release, Arun Ghosh, Principal and KPMG Head of Blockchain for One Americas, stated:
“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. FARUM™ 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.”
The combined offering includes a suite of complementary products and services to boost institutional adoption of crypto-assets and public blockchains.
Furthering Institutional Crypto Adoption
The latest suite of products for BitGo clients also has components designed to increase institutional adoption, according to BitGo. While KPMG views that the combined products aim to deliver core capabilities for institutions and banks without the complications of compliance and risk integrations.
Meanwhile, last year, Coin Metrics and KPMG collaborated on institutional crypto adoption last by entering a strategic alliance.
Pete Najarian, chief revenue officer at BitGo, remarked on the integrated offering:
“Through this collaboration, we will be delivering the products and services that our institutional clients have needed to allow broad adoption of digital assets.”