Global investment in cryptocurrency companies fell to $14.2 billion in the first half of 2022, down from a record $32.1 billion the previous year, a projected trend to continue. Venture capitalists invested $551 million in crypto custody provider Fireblocks, $450 million in Ethereum infrastructure builder ConsenSy, and $400 million in crypto exchanges in the year’s first half.
KPMG anticipates investors to shift away from companies offering coins and non-fungible tokens (NFTs) and toward blockchain infrastructure projects, particularly those involving the use of blockchain to update financial systems, in the year’s second half. According to the firm, there is a rising emphasis on compliance and transaction traceability-related products, as well as greater corporate interest in stablecoins as a lower-risk avenue to investing in cryptocurrency.
Crypto platform Bitpanda
The new option from the Vienna-based crypto investment app will allow users to wager on short-term price changes in 30 commodities. Over the last few months, Bitpanda has tested several pilot schemes across asset classes, including thematic crypto indices and exchange-traded notes. However, this will be the first enterprise to match the demand for anti-inflation products.
Bitpanda sells a derivative product based on the underlying commodity prices behind the scenes. In essence, it allows traders to wager on an ETC contract that monitors the price of various commodities.
With global inflation soaring due to the current conflict between Russia and Ukraine, Bitpanda believes commodities can attract investors looking to diversify their portfolios. The announcement comes shortly after the Bank of Spain granted Bitpanda official recognition as a virtual asset service provider. Bitpanda, a Vienna-based bitcoin platform that operates in six European countries, is the 15th company to get this license. The approval authorizes it to operate in the country after working with the authority to demonstrate that it meets the legal standards.
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