• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

KPMG Canada adds Bitcoin and Ether to its balance sheet

3 years ago
in Business, Cryptocurrency, Editor's pick, highlights, Home, home-news, latest News, Technology
2 min read
0 0
0
126
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

KPMG Canada adds Bitcoin and Ether to its balance sheet

KPMG in Canada said on Monday it has added bitcoin and ether to its corporate treasury, marking the accounting giant’s first direct investment in cryptocurrencies as digital assets move further towards the mainstream.

The allocation of the two largest cryptos by valuation underscores the firm’s view of how the emerging technology and blockchain will eventually become a regular part of the asset mix, Benjie Thomas, advisory services managing partner at KPMG in Canada, said in a statement.

KPMG did not disclose how much the investment was but highlighted its purchase of carbon offsets to maintain a net-zero carbon transaction in line with its environmental, social, and governance commitments.

The Canadian arm of the accounting services company made the purchase through New York-based Gemini Trust Company, which provides custody services.

KPMG also revealed establishing a governance committee to oversee and approve the treasury allocation, as well as to assess the tax and accounting implications of the transaction.

Read: Euro area is recovering strongly, but challenges lie

RelatedPosts

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

“Cryptoassets are a maturing asset class,” Thomas said. “Investors such as hedge funds and family offices to large insurers and pension funds are increasingly gaining exposure to cryptoassets, and traditional financial services such as banks, financial advisors and brokerages are exploring offering products and services involving cryptoassets.”

KMPG in Canada has been offering asuite of crypto-related advisory services including educational workshops, vendor assessments, and compliance program reviews, among others.

It joins other major companies in adding crypto to their balance sheets, including Elon Musk’s Tesla and Michael Saylor’s MicroStrategy. (KPMG US is the auditor of MicroStrategy.)

Holding cryptos has proven to be risky, however. For instance, MicroStrategy reported a $146 million impairment charge related to its bitcoin holdings in the fourth quarter, while Tesla logged $101 million for 2021 though the overall value of its bitcoin stockpile swelled to $2 billion.

KPMG in Canada, which employs around 8,000 people across the country, is established under Ontario laws. Each KPMG firm is a separate entity and is legally distinct from others.

Tags: BitcoinblockchainEtherKPMG Canada adds Bitcoin and Ether to its balance sheet
No Result
View All Result

Highlights

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Tanzania Sink Burkina Faso to Delight Home Crowd In TotalEnergies CHAN 2024 Opener

Trending

Features

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

MTN Nigeria Now the Most Capitalized Stock in Nigeria MTN Nigeria has surged to become the most...

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 2025

US Companies Cut Investments in China to Record Lows, Here’s Why

August 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.