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  • Wed, Aug 1, 2018 KPMG report: US blockchain industry financing in the first half of 2018 has exceeded last year

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    KPMG will publish two copies of The Pulse of Fintech each year. On July 31, they released the latest analysis of 2018, which shows the US block in the first half of this year. The chain investment scale has exceeded the total investment for the whole year of last year. KPMG's four world-renowned audit firms, along with Deloitte, Ernst & Young and PricewaterhouseCoopers, are known as the "Big Four." According to their report, the US blockchain industry's investment in the first two quarters of this year has attracted the attention of the entire market, and the investment is more focused on the late (extra) round of financing, many well-known companies and consortia began to emerge in this new Layout in the industry, not simply a "market participant." Therefore, KPMG suggests that the blockchain industry can boldly move forward rather than staying in the “experimental” phase.

    KPMG listed two large-scale financing transactions, one is that the P2P payment company Circle has received $110 million in financing, the leading party is the cryptocurrency mining giant bit mainland; the other is the French well-known cryptocurrency wallet service. Provider Ledger has raised a new round of financing of $77 million. In the first half of the year, the total investment in the US blockchain market has exceeded last year. In addition, KPMG also specifically mentioned that the blockchain alliance R3 is trying to expand its business scope to the insurance industry. The well-known insurance industry blockchain alliance B3i has also released product prototypes and is trying to commercialize it. On the other hand, some new blockchain alliances focused on developing blockchain supply chain management solutions are also “rising”.

    Regarding the initial token issuance (ICO), KPMG pointed out that although many countries have implemented a comprehensive ban on initial token issuance, the industry is still accelerating. The KPMG report pays special attention to Block.one, an EOS development company based in the Cayman Islands. In the first quarter of this year, EOS completed a one-year initial token issuance project and set a record of $4 billion in ICO financing. In the traditional financial industry, there are also some cases worthy of attention, especially in the UK market. In December last year, British financial technology startups began to support cryptocurrency transactions, and in April this year raised a financing of up to 250 million US dollars. In May of this year, Robinhood, a well-known mobile financial transaction application, announced that it supported cryptocurrency transactions and completed a financing of 363 million US dollars. It was also the largest financing transaction in the first half of this year.

    In fact, in addition to the record high level of cryptocurrency financing, the scale of venture capital investment in the US financial technology industry is also growing. In the first half of this year, the amount of venture capital investment in the US financial technology industry has exceeded $5 billion. In addition to private equity and M&A transactions, the ability of the global financial technology industry to attract funds has exceeded “people’s imagination”, not only higher than last year’s total. Even surpassed the peak of 2015. According to an investment and financing analysis report issued by Crunchbase in February this year, the United States is far ahead of other countries in investing in the blockchain industry.