Big Four accounting firm KPMG_Canada just added Bitcoin and Ether to its corporate treasury.
) to its corporate treasury, joining other major companies in converting a portion of its fiat holdings into digital assets.KPMG Canada’s belief that cryptocurrencies are a “maturing asset class,” says Benjie Thomas, a managing partner for the firm. KPMG in Canada is following in the footsteps of hedge funds, family offices and pension funds in gaining exposure to crypto.
In addition to its newly acquired BTC and ETH holdings, KPMG in Canada said it also purchased carbon offsets as part of its environmental, social and governance mandate.Game on.The company's treasury policy is overseen by a governance committee that includes stakeholders from several divisions, including finance, risk management and tax. KPMG said it"completed a rigorous risk assessment," including evaluating tax implications, before deciding to add digital assets to its holdings.
KPMG dipped its toes in the crypto sector as far back as 2020 when the firm unveiled a blockchain-based Climate Accounting Infrastructure Solution. As Cointelegraph reported at the time, the new initiative was designed toSeveral major corporations have sought exposure to crypto over the past year in an effort to diversify their holdings and hedge against inflation.
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