KPMG CANADA ADDS CRYPTO TO THEIR BALANCE SHEET
Updated: Jun 8
KPMG in Canada said it added Bitcoin and Ethereum to its corporate treasury as part of a commitment to emerging technologies and asset classes, becoming one of the highest-profile mainstream firms to invest in cryptocurrencies.
KPMG Canada Acquired Bitcoin and Ethereum via Gemini crypto exchange. Gemini Trust Company LLC's execution and custody services.
KPMG Canada did not disclose the amount invested in this asset class. However, they bought carbon offsets to maintain net zero carbon transactions.
Kareem Sadek KPMG's advisory partner, crypto assets and blockchain services co-leader, mentioned that the company would branch out to other industries in the crypto world.
"We've invested in a strong crypto assets practice and we will continue to enhance and build on our capabilities across Decentralized Finance (DeFi), Non-Fungible Tokens (NFTs) and the Metaverse, to name a few,” he said. “We expect to see a lot of growth in these areas in the years to come," he added.
Reference:
Salvo, M.D. (2022) KPMG Canada adds Bitcoin and Ethereum to its balance sheet, Decrypt. Decrypt. Available at: https://decrypt.co/92284/kpmg-canada-bitcoin-ethereum-balance-sheet (Accessed: March 30, 2023).