KPMG in Canada adds Bitcoin and Ethereum to its corporate treasury
Cryptoasset allocation is a first-of-its-kind investment for KPMG in Canada, and reflects the firm’s commitment to emerging technologies and asset classes
TORONTO, Feb. 7, 2022 /CNW/ – KPMG in Canada has completed an allocation of cryptoassets to its corporate treasury, the firm’s first direct investment in cryptoassets.
The allocation includes Bitcoin (BTC) and Ethereum (ETH), as well as carbon offsets to maintain a net-zero carbon transaction to deliver on the firm’s stated environmental, social and governance (ESG) commitments.
“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.