KPMG publishes report on institutionalization of cryptoassets

Yesterday KPMG published a report entitled “Institutionalization of cryptoassets” with extensive contribution from Coinbase. The report explores why cryptoassets are a “big deal”, the challenges it faces for institutionalization, and some analysis of the attributes money.

Terminology

KPMG uses the term cryptoassets, as opposed to cryptocurrencies or tokens or digital assets. Perhaps one aspect of the institutionalization process is that organizations might agree on terminology. The term cryptoassets is most heavily used by central banks, particularly the Financial Stability Board. Coinbase calls then cryptocurrencies. A quick review shows that incumbents lean towards the term Digital Assets: BAKT, SIX and Fidelity are all using that term. Back to the report itself. Coinbase expects there will be three adoption stages: the current investment/speculation phase, institutionalization, and utility. The company believes (or hopes) it’s possible that the institutionalization and utility phases could happen in parallel.

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