KPMG’s Commitment to Crypto Assets
KPMG Canada is grabbing headlines by taking a leap into the crypto universe, showcasing both Bitcoin (BTC) and Ether (ETH) on its balance sheet. This move doesn’t just say, ‘Hey, we’re here,’ but rather, ‘We’re part of the club.’ Kareem Sadek and Kunal Bhasin of KPMG’s crypto assets and blockchain services team expressed that this is merely their first step toward an exciting deeper dive into the industry.
Walking the Talk: Institutional Support for Crypto
During the Collision conference in Toronto, Bhasin emphasized the importance of demonstrating commitment to the digital assets community. He quipped, “We thought it’s better to go through the journey ourselves — show the community we’re part of it.” This isn’t just corporate lip service; it’s about fostering understanding and inviting other institutions to participate.
Solid Governance, Not Speculation
Sadek further clarified that KPMG’s venture isn’t a whimsical decision driven by the latest price dips. Instead, it’s a strategic approach backed by thorough research from their governance council. The statement underscored just how serious KPMG is about crypto’s potential for institutional growth, regardless of the current bear market situation.
The Booming Tokenization Trend
One of the standout trends noted by the duo is the rise of tokenization in real estate and other sectors. Bhasin observed a wave of momentum around this concept, suggesting that companies are beginning to see the value in digital representations of real-world assets. But that’s only the beginning. The duo hinted at growing interest in non-fungible tokens (NFTs) and even the Metaverse. “[The Metaverse] is still in its very early stages — companies are still exploring,” Bhasin remarked, foreshadowing further exploration as industry readiness grows.
Regulators and Future Growth
The regulatory landscape is crucial as institutions enter this space, and KPMG is keenly aware of it. Sadek noted that Canadian regulators have shown a favorable stance towards crypto exploration, paving the way for more defined frameworks for institutional interaction. With initiatives like KPMG’s 2022 survey measuring crypto growth, there’s ample evidence that curiosity among companies remains high.
The Future is Bright: Institutions Are All-In
Despite the bear market, KPMG’s crypto team is not taking a backseat. As Bhasin puts it, “Bear market or not, institutions are continuing to ask these questions [on NFTs, the Metaverse, Web3, and crypto].” Clearly, KPMG is making moves that will help shape not just their future but the future landscape of institutional crypto engagement.
