KPMG's study of the Australian fintech landscape found that more than 7% of Australia-based fintech companies will fail in 2024, with the blockchain and cryptocurrency markets hardest hit. KPMG's "Australian Fintech Landscape 2024" report states that the total number of independent fintech companies in Australia has been declining for two years, having decreased from 800 companies in 2022 to 767 active companies across all business verticals as of 9 December. 60 of those closing in 2024...
KPMG plans to invest $100 million over the next four years to advance its enterprise AI services. The initiative will involve a partnership with Google Cloud, focusing primarily on internal AI projects leveraging Google technology. KPMG is expanding AI and Cloud as a Service to meet customer needs, including a five-year commitment of $2 billion with Microsoft's cloud offerings earlier in July 2023.
KPMG released the "Fintech Trends" report yesterday, which shows that 438 transactions were recorded in the Asia-Pacific region in the first half of the year, raising 3.80 billion US dollars. The Asia-Pacific region places more emphasis on the development and launch of virtual currencies and real-world asset tokens. Major financial hubs such as Hong Kong, Singapore and Japan are committed to balancing innovation and regulation. While protecting investors' rights and interests, they continue to e...
Big Four accounting firm KPMG has formed a strategic alliance with crypto accounting software Cryptio to help U.S. crypto companies comply with Generally Accepted Accounting Principles (GAAP) compliance. According to the announcement, the KPMG-Cryptio strategic alliance aims to establish controls within cryptocurrency companies to better account for their crypto assets. Through this partnership, crypto-related businesses and institutions can use Cryptio's accounting software to meet their GAAP a...
The Hong Kong Investment Funds Association and KPMG jointly released the report "Vision 2030: The Future of Hong Kong's Fund Management Industry". The report highlights the diversification of Hong Kong's investment, that is, the opening up of more asset classes to retail investors, especially the growing interest in alternative funds. Virtual assets continue to attract investor interest, including the increasing number of investment options available such as virtual asset ETFs. Recent regulatory...