KPMG Canada Buys BTC and ETH as Institutional Adoption Gains Momentum

KPMG Canada Buys BTC and ETH

Privately held accounting firm KPMG Canada has allocated Bitcoin and Ether to its balance sheet for the first time as more companies join the craze.

The Toronto-based firm says the digital assets were acquired via Gemini Trust company’s execution and custody services.

KPMG Canada spokesperson, Roula Meditskos, notes that the firm is bullish on cryptocurrencies saying they were here to stay and are innovative futuristic opportunities.

The company has created a governance committee to manage and approve the treasury allocation factoring risk assessment and the tax aspects.

Advisory partner of crypto assets and blockchain services at KPMG Canada, Kareem Sadek, says that the firm has a strong crypto assets practice. He adds that it was building capacity in DeFi, NFTs, and metaverse.

MicroStrategy, EV maker Tesla, and Square are other big firms bullish on cryptocurrencies as the trend gains momentum among institutional clients.

Source: Coindesk

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