KPMG, one of the Big Four accounting firms, said Monday that its Canadian subsidiary has included bitcoin and ethereum on the company’s balance sheet. This is the company’s first direct investment in cryptocurrencies.
The company said in a statement that the allocation of funds includes bitcoin and ethereum, as well as carbon offsets, to maintain net-zero carbon trading and comply with its environmental, social and governance (ESG) commitments.
The company said it bought bitcoin and ether through the execution and custody services of the Winklevoss brothers’ Gemini Trust Company LLC.
In a statement, KPMG said the investment demonstrates the firm’s vision for emerging technologies powered by blockchain.
“This investment reflects our belief that institutional adoption of cryptoassets and blockchain technology will continue to grow and become a regular part of asset portfolios.”
Benjie Thomas, Managing Partner, Consulting Services, KPMG Canada
