(Cision) Privately held accounting firm KPMG has bought its first crypto assets at its Canadian branch, with both Bitcoin and Ethereum the first to be acquired.
The accounting firm added the crypto assets through Gemini Trust Company’s execution and custody services.
The crypto purchase happens after the company created a governance committee dedicated to treasury allocation, tasked with the responsibility or risk assessment and review, as well as tax and accounting implications.
Canadian spokesperson for KPMG Roula Meditskos says the accounting firm is bullish on cryptocurrencies, considering them as the innovative investment opportunities of the future.
KPM says it will continue enhancing and building its capabilities in other innovative financial technologies such as non-fungible tokens, decentralized finance, and the metaverse.
KPMG now joins the likes of MicroStrategy, Tesla, and Square, which have added crypto to their balance sheet.
BTCUSD is up +0.76%, ETHUSD is down -0.96%.
