The blockchain and crypto space had 31 deals, more than other fintech industries in Canada for the second year in a row.
Crypto and blockchain topped the number of investments within the financial technology space in Canada, according to a report by accounting organization KPMG.
On Feb. 6, KPMG published a Canadian fintech report, highlighting that while deal volumes and values dropped significantly in 2023, crypto remains at the top of the charts. KPMG’s data showed that the blockchain and crypto space had 31 deals in 2023, more than any other vertical in fintech. The software-as-a-service industry followed with 24 deals, while the artificial intelligence and machine learning industry had 15 deals.
KPMG partner Edith Hitt said in the report that investor interest in crypto-related fintech projects was driven partly by the anticipation of spot Bitcoin exchange-traded fund (ETF) approvals by the United States Securities and Exchange Commission. Hitt explained:
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Source: https://cointelegraph.com/news/crypto-canada-fintech-investments-2023-kpmg-report