One of the world’s largest tax advisory service firms KPMG has published its bi-annual “Pulse of Fintech 2018” report. For the report KPMG has studied spending for businesses around the world, highlighting a large increase in blockchain business spending in Q1 and Q2 2018.

According to the report, investment in US-based fintech companies grew up to $14.2 billion in the first half of 2018 over 427 deals. $5 billion of that sum are from venture capital. However, the analysts have found out that more mature companies and consortia are able to attract more investors’ interest than such industry’s newcomers as startups.

The “Pulse of Fintech 2018” report reads:

“Investor interest in blockchain was not limited to one jurisdiction. Good sized funding rounds were seen during the first half of the year, including $100 million+ rounds to R3 and Circle Internet Finance in the US and $77 million to Ledger in France. The US was particularly active on the blockchain front, with total investment in the first half of the year already exceeding the total seen in 2017.”

As it is revealed, Asia has taken leading positions in overall fintech spending (without taking blockchain in consideration), but the United States is still a leader from the point of view of blockchain investments in particular.

The report also points out the companies which have achieved good results in their funding rounds this year. A P2P payment platform Circle is also among of them. It has held a $110 million round. Another examples are the crypto wallet Ledger and the mining hardware producer Bitmain. In general, this year the investment volumes in the US are already larger than they were in entire 2017.

If we proceed and take into account companies outside the US, we will see some other examples of successful fund raising. For example, a UK-based bank Revolut that has always been open for innovations has raised $250 million this spring.

The report also shows that ICOs have continued their winning way this year in spite of the fact that some governments have a very negative attitude towards them. For example, in China ICOs are fully banned, while in the US, the projects that accepted non-accredited investors faced with serious issues.

The report emphasizes that blockchain industry and related sectors are definitely will continue to grow.

“Blockchain’s capabilities extend from recordkeeping and the registration of transactions to documentation management and supply chain management. While it has primarily been looked at from a banking and insurance point of view to date, the reality is blockchain opportunities abound and could enhance processes for any number of US and global businesses.”

The experts of International Data Corporation have come to the similar conclusions. According to their report, total spending on projects in the blockchain industry will reach $11.7 billion in 2022 alone.

The post KPMG Report: US Blockchain Spending Already Exceeds the Total for 2017 appeared first on CoinSpeaker.

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