Fun

KPMG in Canada Makes First Direct Crypto Investment — Adds Bitcoin, Ether to Corporate Treasury

News Feed - 2022-02-08 10:02:41

KPMG in Canada Makes First Direct Crypto Investment — Adds Bitcoin, Ether to Corporate Treasury


KPMG in Canada has added bitcoin and ether to its corporate treasury in what the company called a “first-of-its-kind investment.” KPMG said: “This investment reflects our belief that institutional adoption of crypto assets and blockchain technology will continue to grow and become a regular part of the asset mix.” Bitcoin and Ether on Balance Sheet of KPMG in Canada


KPMG in Canada announced Monday the company’s “first-of-its-kind investment.” KPMG is one of the Big Four accounting firms. The announcement details: KPMG in Canada has completed an allocation of crypto assets to its corporate treasury, the firm’s first direct investment in crypto assets.


“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,” KPMG detailed.


The accounting firm acquired bitcoin and ether on its balance sheet through Gemini Trust Company LLC’s execution and custody services.


Benjie Thomas, managing partner of Advisory Services, KPMG in Canada, commented: “Investors such as hedge funds and family offices to large insurers and pension funds are increasingly gaining exposure to crypto assets, and traditional financial services such as banks, financial advisors and brokerages are exploring offering products and services involving crypto assets.” He opined: This investment reflects our belief that institutional adoption of crypto assets and blockchain technology will continue to grow and become a regular part of the asset mix.


Kareem Sadek, Cryptoassets and Blockchain Services co-leader, KPMG in Canada, shared: “The crypto asset industry continues to grow and mature and it needs to be considered by financial services and institutional investors.” He continued: We’ve invested in a strong crypto assets practice and we will continue to enhance and build on our capabilities across decentralized finance (defi), non-fungible tokens (NFTs) and the metaverse, to name a few. We expect to see a lot of growth in these areas in the years to come. Tags in this story KPMG, kpmg bitcoin, kpmg btc, kpmg crypto, kpmg cryptocurrency, KPMG eth, KPMG ether, KPMG ethereum, KPMG invests in crypto


What do you think about KPMG adding bitcoin and ether to its corporate treasury? Let us know in the comments section below. Kevin Helms


A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Tesla Holding Bitcoin Worth $2 Billion — Sees Crypto as Both Investment and Liquid Alternative to Cash FEATURED | 8 hours ago Binance Warns Crypto Investors of "Massive Phishing Scam via SMS" FEATURED | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleTesla Holding Bitcoin Worth $2 Billion — Sees Crypto as Both Investment and Liquid Alternative to Cash Next articleUS Senator: China’s Digital Currency Could Subvert US Sanctions, Enhance Surveillance Capabilities Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItRobinhood to Launch Crypto Trading Internationally — Sees "Immense Potential" in Crypto Economy


Robinhood has “set aggressive goals to start opening its crypto platform up to customers internationally in 2022,” the popular trading platform revealed during its Q4 earnings call. “The company believes in the immense potential of the crypto economy and sees ... read more.Russian Investors to Pass Exams Before Buying Cryptocurrencies, Draft Law Suggests Ethereum Fees Drop 53% in 20 Days — Polygon Hermez, Loopring Offer Lowest L2 Fees Ark Invest Expects Bitcoin to Exceed $1 Million by 2030 — Says BTC Could Transform Monetary History Apple on Metaverse: We See a Lot of Potential and Are Investing — CEO Tim Cook Says "It"s Very Interesting to Us"

News Feed

Bitcoin Open Interest Dropped Significantly – Investors Cautions Amid US Election Week?
Este artículo también está disponible en español. Bitcoin has faced significant volatility and uncertainty as it approaches a pivotal week, with tomorrow’s U.S. electio
Bitcoin Officially In Overheated MVRV Zone, Rally End Near?
Este artículo también está disponible en español. On-chain data shows Bitcoin has recently surpassed a level of the Market Value to Realized Value (MVRV) Ratio that has h
Jointer.io Matches Binance & CZ’s $100 Million Challenge With Early Adopter Fund
Jointer.io Matches Binance & CZ’s $100 Million Challenge With Early Adopter Fund PRESS RELEASE. Changpeng Zhao (CZ) sent shockwaves across the crypto industry
Introducing Binance Oracle VRF: The Next Generation of Verifiable Randomness
Introducing Binance Oracle VRF: The Next Generation of Verifiable Randomness sponsored Main Takeaways Binance Oracle VRF is a Verifiable Random Function (VRF) solution that enables
Bank of England Deputy Governor Warns Crypto Prices Could Fall to Zero
Bank of England Deputy Governor Warns Crypto Prices Could Fall to Zero Bank of England’s deputy governor for financial stability, Sir Jon Cunliffe, has warned that the price
Shiba Inu Presents SHIB Metaverse With Over 100K Land Plots
Shiba Inu Presents SHIB Metaverse With Over 100K Land Plots Shiba Inu, the meme-coin project that mimicked dogecoin, has announced it is launching its own take on the metaverse. Th
Airdrop token prices are crashing — Does Web3 need a new model?
Alex O’Donnell10 hours agoAirdrop token prices are crashing — Does Web3 need a new model?Tokens distributed in airdrops consistently underperform the market. Now, Web3 protocols are exploring new approaches.543 Total
ApeCoin DAO gives thumbs up to .APE top-level domains
Arijit Sarkar14 hours agoApeCoin DAO gives thumbs up to .APE top-level domainsD3 will lead the effort to prepare and submit the application after the majority (91.68%) of the ApeCoin voters did so in favor of the proposa
Dow Recoils as Bonds Surge, Oil Crashes & Recession Alarms Ring
The Dow Jones sputtered to another loss as bonds surged, oil crashed, and recession alarms grew even louder. | Source: REUTERS / Brendan McDermid Wild v
Web3 Company Animoca Brands Lowers Fundraising Goal to $1 Billion in Q1 2023
Web3 Company Animoca Brands Lowers Fundraising Goal to $1 Billion in Q1 2023 Animoca Brands, a Web3 gaming-focused company, has announced it is now targeting a raise of $1 billion
Largest Stablecoin by Market Cap Tether Launches on the Avalanche Network
Largest Stablecoin by Market Cap Tether Launches on the Avalanche Network The largest stablecoin by market capitalization, tether has announced the launch of tethers on the Avalanc
Crypto Expert Puts Ethereum Price At $19,500 With Head And Shoulders Emergence
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu