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KPMG has decided to add Bitcoin and Ethereum to its treasury

Updated: Aug 31, 2024
Published: Feb 7, 2022
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KPMG LLP is a full-service Audit, Tax, and Advisory firm owned and operated by Canadians that has been operating for 150 years. The firm has completed the addition of crypto assets to its treasury, as per a press release. 

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KPMG adding BTC and ETH

KPMG is now adding Bitcoin and Ethereum to its corporate treasury, and it seems that 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," as per the Press Release.

Moreover, the firm has also formed a governance committee that aims to provide oversight and approve the treasury allocation for KPMG. It seems that the firm is now ready to expand its treasury with Bitcoin and Ethereum, the two biggest cryptocurrencies in the world. Kareem Sadek, Advisory Partner, Cryptoassets and Blockchain Services co-leader, KPMG in Canada, said in his statement:  

"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."

Canada sees a surge in BTC operations

Canada seems to be the new haven for Bitcoin and Ethereum-based operations, and recently, the Fidelity Clearing Canada ULC received approval from regulatory authorities to emerge as the first custodian for Bitcoin in the nation. It seems that KPMG is following such firms and aims to dip its hand in the crypto assets. 

However, the promotion of crypto assets in Canada has met with regulations as recently the Canadian Securities Administrators issued guidelines for crypto advertisements on social media. Their guidelines aim to eradicate the prevalent scam that the crypto industry is vulnerable to. The country has now become one of the most crypto-friendly countries in the world. 

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