Yesterday KPMG Canada said it had invested some of its corporate treasury in cryptocurrencies, including Bitcoin and Ethereum, as well as carbon offsets to comply with ESG commitments.
As a site focused on business use cases rather than investors, we don’t cover much about cryptocurrency investment. But a big four accounting firm allocating treasury funds to cryptocurrency is undoubtedly newsworthy. However, the announcement also sends a message to cash-rich cryptocurrency firms that KPMG is crypto-friendly and should be considered for compliance advisory work. Evenso, this first step is a very important one.
“This investment reflects our belief that institutional adoption of cryptoassets and blockchain technology will continue to grow and become a regular part of the asset mix,” said Benjie Thomas, Canadian Managing Partner, Advisory Services.
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