The Canadian arm of the independent audit firm KPMG has announced that it has added Bitcoin (BTC) and Ethereum (ETH) to its balance sheet.
KPMG’s Canadian arm, which provides auditing, tax and advisory services at an international level, broke new ground on behalf of the company. direct cryptocurrency investment made.
Before adding cryptocurrencies to the company’s balance sheet, KPMG has established a special audit committee within the institution to evaluate the legal and reputational consequences of this move.
The company used custody services provided by Gemini Trust Company LLC to purchase Bitcoin and Ethereum.
Benjie Thomas, director of KPMG Canada, said in a statement on the subject, stating that more and more hedge funds are entering the crypto money market, “Crypto-assets continue to mature. Our investment reflects our belief that crypto assets and blockchain technology will gain greater acceptance at the enterprise level.” said.
KPMG International, which the Toronto-based company is affiliated with, announced $32.1 billion in revenue for 2021.
Kareem Sadek from the KPMG Canada team, especially as a company in the future, decentralized finance (DeFi) and non-fungible token (NFT) announced that they plan to work more actively in their fields.