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On Monday, KPMG Canada announced its first allocation of crypto assets to its corporate treasury.
The firm said acquisition of bitcoin (BTC) and ether (ETH) on its balance sheet was made through Gemini Trust Company’s execution and custody services.
The Canadian branch of the accounting giant did not disclose the amounts of BTC and ETC purchased at press time.
In a statement to the press, Kareem Sadek, advisory partner of cyprotassets and blockchain services at KPMG Canada, said:
“We’ve invested in a strong cryptoassets practice and we will continue to enhance and build on our capabilities across decentralized finance (DeFi), non-fungible tokens (NFTs) and the metaverse, to name a few.”
With its crypto holdings, KPMG officially joins the ranks of major businesses like business intelligence firm MicroStrategy (MSTR) and electric vehicle manufacturer Tesla (TSLA).