tl;dr
KPMG's new report on the Canadian market reveals that in 2023, half of financial service providers offered crypto asset services, up from 41% in 2021. The study also shows that 39% of Canadian institutional investors had crypto exposure in 2023, rising from 31% in 2021. KPMG attributes this trend to...
KPMG's latest report on the Canadian market reveals a growing trend as half of financial service providers offered crypto asset services in 2023, up from 41% in 2021. The study also shows that 39% of Canadian institutional investors had crypto exposure in 2023, rising from 31% in 2021.
KPMG attributes this rise to Canada's supportive regulatory environment for crypto assets and the increasing interest in using crypto as a hedge against currency debasement, particularly in the face of rising inflation and US debt.
Kareem Sadek, Emerging Technology Risk leader and co-leader of KPMG’s Digital Assets practice, states that Canadian institutional investors have become more comfortable with crypto due to Canada's supportive regulatory environment and rising crypto prices.
Kunal Bhasin, partner and co-leader of KPMG in Canada’s Digital Assets practice, explains that institutions in Canada are also turning to crypto assets as a means to hedge against the debasement of national currencies, especially in light of increasing inflation and US debt.
Disclaimer: The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.