In a news release on Febraury 7, KPMG in Canada announced it has completed an allocation of bitcoin and ethereum to its corporate treasury. In addition to the cryptoassets, the top accounting firm also allocated carbon offsets to maintain a net-zero carbon transaction.
“Cryptoassets are a maturing asset class,” says Benjie Thomas, Canadian Managing Partner, Advisory Services, KPMG in Canada. “Investors such as hedge funds and family offices to large insurers and pension funds are increasingly gaining exposure to cryptoassets, and traditional financial services such as banks, financial advisors and brokerages are exploring offering products and services involving cryptoassets. This investment reflects our belief that institutional adoption of cryptoassets and blockchain technology will continue to grow and become a regular part of the asset mix,” he added.
KPMG in Canada acquired Bitcoin and Ethereum on its balance sheet through Gemini Trust Company LLC’s execution and custody services.
Source: KMPG News Release