Hedera surges as KPMG India teams up with The Hashgraph Group

Hedera (HBAR) price rose alongside other top cryptocurrencies as Bitcoin reclaimed the $102K level.

The bounce in HBAR price reflected the broader optimism in the crypto markets following the DeepSeek AI driven sell-off.

However, the gains for Hedera also came amid news of a fresh partnership between The Hashgraph Group and KPMG in India.

Hashgraph Group is a Swiss-based company and venture capital firm helping to accelerate the adoption of Hedera (HBAR).

Meanwhile, KPMG in India is a professional services firm affiliated with KPMG International.

THG and KPMG eye digital transformation via Hedera

On January 28, the Hashgraph Group and KPMG in India announced a strategic alliance that will see them leverage Hedera blockchain and its distributed ledger technology network to accelerate enterprise adoption of blockchain and DLT. 

By tapping into THG’s enterprise product, the partners will bring Hedera-based enterprise solutions to businesses, the firms said in a press release.

“We are excited to join forces with The Hashgraph Group to build innovative Digital Ledger Technology (DLT) led tools and enable digital transformation for our clients,” Chaitanya Gogineni, partner at KPMG in India, said.

This alliance is built on a shared vision of empowering businesses to harness the power of DLT, unlocking new opportunities and creating lasting value.

THG and KPMG will combine their respective expertise and technology to support robust decentralized applications that offer key market solutions. 

Businesses can tap into these Hedera-based solutions to address challenges across market sectors.

These include asset tokenization, digital identity, sustainability, digital product passport and supply chain management. 

The collaboration will also go beyond the innovation to support productization and commercialization.

Hashgraph Group and KPMG plan to pool engineering resources, investments, and web3 capabilities to ensure enterprise-ready solutions reach key players in the ecosystem.

Stefan Deiss, co-founder and CEO of The Hashgraph Group, noted:

This strategic alliance with KPMG in India represents a pivotal moment in combining the strengths of a leading professional services firm with the technological power of Hedera as the world’s leading layer-1 protocol to enable organizations with Hedera-powered post-quantum enterprise solutions.

HBAR price

The HBAR price, like most altcoins did on Monday, saw a significant sell-off as investors sharply reacted to DeepSeek AI’s release.

Bearish pressure pushed the Hedera native token’s price lower, with sellers touching lows of $0.29. 

HBAR chart by TradingView

Declines had come with a surge in daily volume as sentiment suggested further shakeout.

However, HBAR has bounced off the 24-hour lows and currently trades around $0.32. This follows a notable 8% flip in favour of bulls. 

Market data shows a decrease in trading volume, with about $501 million at current level compared to over $586 million in the prior 24-hour period.

If bulls take charge, the next target will be the all-time high of $0.57.

On the flipside, sellers can push for $0.26 and lower.

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