KPMG in Canada has added bitcoin and ether to its corporate treasury in a “first-of-its-kind investment,” according to the firm.
The company expects that institutional adoption of crypto assets and blockchain technology will continue to expand, and that they will become a regular part of the asset mix.
“In order to meet the firm’s declared environmental, social, and governance (ESG) standards, the allocation includes bitcoin (BTC) and ethereum (ETH), as well as carbon offsets to ensure a net-zero carbon transaction,” KPMG explained.
The accounting firm used Gemini Trust Company LLC’s execution and custody services to add bitcoin and ether to its balance sheet.
Benjie Thomas, managing partner of KPMG’s Advisory Services in Canada expressed his thoughts in the following manner:
“Investors ranging from hedge funds and family offices to large insurers and pension funds are increasingly gaining exposure to crypto assets. “Traditional financial services such as banks, financial planners, and brokerages are looking into supplying crypto-related products and services.”
Would you also be following KPMG’s footsteps by investing in abovementioned crypto assets? Comment below.
