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Well-known accounting firm KPMG announced a strategic alliance with encrypted data company Coin Metrics

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The alliance centers on ATLAS and FARUM, as well as KPMG's Chain Fusion.

Rhythm BlockBeats news, on October 28, KPMG, one of the Big Four accounting firms, announced the establishment of a "strategic alliance" with Coin Metrics, an encrypted market data company .

The firm sees the partnership as "an important tool to support institutional adoption of crypto assets and public blockchains." a way of growth. The announcement comes amid growing demand from financial institutions for accounting and auditing services, following PayPal's announcement that it will allow users to buy and sell cryptocurrencies.

The alliance centers on three products: Coin Metrics' ATLAS and FARUM, and KPMG's Chain Fusion.

FARUM is a risk management tool not only for monitoring potential attacks on blockchain networks, but also for Monitor fee fluctuations and unusual events. It pulls data from nodes, mining pools, and other sources.

ATLAS is a blockchain search tool for auditing transactions on popular blockchains. A key function of it is to determine the value of assets for reporting capital gains or losses - something that KPMG's global tax accounting team will assess.

Both products will be integrated with Chain Fusion, KPMG’s digital asset suite, which helps Fintech firms and financial services firms grapple with issues ranging from anti-money laundering regulation to financial risk.

KPMG audits major financial institutions including Citigroup, Deutsche Bank and Wells Fargo. The company's latest move will help it stay competitive in its class. One of the Big Four, Ernst and Young, created its own crypto tax service this summer, while PricewaterhouseCoopers (PwC) formed a partnership with ChainSecurity to audit smart contracts. Meanwhile, Deloitte has a software development team to help clients maintain blockchain products.