Accounting firm KPMG is getting into cryptocurrencies. The firm announced in a press release on Feb. 7, 2021, that its Canada office had purchased Ethereum (ETHUSD) and Bitcoin (BTCUSD) for its corporate treasury. KPMG did not divulge the amount or figures related to its investment in cryptocurrencies.1
“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,” stated Benjie Thomas, managing partner at KPMG’s Canada office.
The firm’s decision to make its crypto purchase in Canada may be related to the fact that the country has a regulatory framework that is more supportive of the asset class and related products as compared to the United States.
