KPMG Canada is adding bitcoin and ether to its balance sheet as crypto moves further towards the mainstream

bitcoin
  • KPMG in Canada has added bitcoin and ether to its corporate treasury as digital assets further enter the mainstream.
  • The move marked the accounting giant’s first direct investment in cryptocurrencies.
  • “Cryptoassets are a maturing asset class,” a Canadian managing partner said.

KPMG in Canada said on Monday it has added bitcoin and ether to its corporate treasury, marking the accounting giant’s first direct investment in cryptocurrencies as digital assets move further towards the mainstream.

The allocation of the two largest cryptos by valuation underscores the firm’s view of how the emerging technology and blockchain will eventually become a regular part of the asset mix, Benjie Thomas, advisory services managing partner at KPMG in Canada, said in a statement.

KPMG did not disclose how much the investment was but highlighted its purchase of carbon offsets to maintain a net-zero carbon transaction in line with its environmental, social, and governance commitments.

The Canadian arm of the accounting services company made the purchase through New York-based Gemini Trust Company, which provides custody services.

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