The Canadian division of accounting giant KPMG has acquired an undisclosed amount of bitcoin and ether for its balance sheet. BrandyBetz reports
first allocation of crypto assetsThe privately held firm said Monday it acquired bitcoin and ether on its balance sheet through Gemini Trust Company’s execution and custody services.
The Toronto-based company established a governance committee to oversee and approve the treasury allocation, which included a risk assessment and review of the tax and accounting implications. In a press release, Kareem Sadek, advisory partner of cyprotassets and blockchain services at KPMG Canada, noted that"we've invested in a strong cryptoassets practice and we will continue to enhance and build on our capabilities across decentralized finance , non-fungible tokens and the metaverse, to name a few.”
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