KPMG Canada adds cryptocurrencies to corporate treasury

The Canadian division of accounting conglomerate KPMG International said today it has added cryptocurrencies to its corporate treasury.

In a press release published today, the Toronto-based company announced it has added bitcoin and ether.

KPMG accquired the assets with the help of Gemini Trust Company’s custody services, the exact amount remains undisclosed at this time. Prior to the acquisition, a governance committee reviewed all the risks associated with holding cryptos.

"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" says Benjie Thomas, Benjie Thomas, Canadian Managing Partner, Advisory Services, KPMG in Canada.

Kareem Sadek, Advisory Partner, Cryptoassets and Blockchain Services co-leader, KPMG in Canada, also said the company has plans to invest in Decentralized Finance (DeFi), Non-Fungible Tokens (NFTs) and the Metaverse.

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