KPMG in Canada has added Bitcoin and Ethereum to its corporate treasury in its first direct investment in crypto assets, the firm said in a press release on Monday.
The allocation also includes carbon offsets to maintain a net-zero carbon transaction in order to keep the firm in line with environmental, social and governance (ESG) commitments.
“Crypto assets are a maturing asset class,” said Benjie Thomas, Canadian Managing Partner, Advisory Services, KPMG in Canada.
“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. 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,” he added.
KPMG established a governance committee to provide oversight and approve the treasury allocation.
The investment “illustrates the firm’s outlook on emerging technologies underpinned by blockchain,” the press release said.
Author Name : Kiran Sagar