Decentralized Ledger Technology and enterprise blockchain services

Did your organization already identify the potential for Decentralized Ledger Technology (DLT)?

Crypto assets, such as Bitcoin and Ethereum, have emerged as an alternative asset class. This is reflected in new products from traditional financial service providers and portfolio allocations by institutional investors.

Among this innovation, new enterprise applications for the underlying blockchain technology gained relevance. This novel data processing structure has the potential to improve transparency and efficiency across legacy systems.

The complexity arising from crypto assets and enterprise blockchain technology remain a key challenge for widespread institutional adoption. As organizations begin to grapple with this new technology, they need to account for the complex regulatory, tax, accounting, risk and compliance implications.

Romano Feuerstein

Director, Financial Services

KPMG Switzerland

mail
call

Petrik Leutert

Director, Financial Services Accounting Advisory

KPMG Switzerland

mail
call

The financial sector needs to accept that DLT poses an actual opportunity in many use cases, specifically to enhance regulatory oversight and reporting as well as to facilitate effective compliance.

Pascal Sprenger

Partner, Financial Services,

Head FS Consulting, KPMG Switzerland

DLT in the banking industry

Read our KPMG DLT Report 2023 including a polling regarding the DLT adoption in the Swiss and Liechtenstein banking sector indicating growing relevance of this topic, insights of DLT use cases in banking and clarity on recent DLT regulatory developments as well as a glimpse from a Swiss tax perspective. Get your first hand insights by downloading it right now!

DLT in the banking industry

Advantages in the financial landscape

Download

Our KPMG guidance “Accounting for Bitcoin, Ehereum and their ETFs” provides a concise overview of accounting practices for Bitcoin, Ethereum and their ETFs in the Swiss context. It summarizes key regulations under the Swiss Code of Obligations (SCO), Swiss Accounting Standards for Banks, IFRS and Swiss GAAP FER.

The focus is on essential classifications, valuation methods and reporting requirements to ensure an accurate and compliant financial representation. For a deeper understanding of the main aspects of cryptocurrency accounting in the Swiss financial market, feel free to download the full guidance!

Accounting for Bitcoin, Ethereum and their ETFs

Comprehensive Guide for Switzerland

Download

Our expertise for your journey in DLT

The financial landscape is evolving, with the establishment of new investment products that cater to the growing interest in digital assets. Institutional investors are increasingly recognizing the potential of cryptocurrencies and blockchain technology, leading to strategic allocations in this emerging asset class.

As digital assets gain traction, it is essential to be aware of the challenges and risks associated with this evolving market. Market volatility, regulatory considerations, and technological complexities require careful navigation and informed decision-making. Our experienced team understands these nuances and is equipped to guide you through the intricacies of digital asset investment. With in-depth market knowledge and a focus on risk management, we can help you make informed choices while maximizing the potential of digital assets and blockchain technology.

We provide a range of specialized services tailored to the dynamic world of blockchain technology. As pioneers in the industry, we are committed to guiding your organization through the intricacies of blockchain adoption, enabling you to unlock its transformative potential. Our comprehensive service offerings cover a wide spectrum of areas, including strategic advisory, ESG support, treasury management, tax, accounting and legal advisory, audit services and cybersecurity. With our deep industry knowledge and expertise, we are poised to empower your organization with the tools and insights necessary to navigate the blockchain landscape successfully and drive unprecedented growth in this era of decentralized technologies.

Cyber & Digital Risk

Our services

Assessment of cyber resilience and digital risks, controls and vulnerabilities
Design and implementation of cyber resilience and digital risk control frameworks
Technical security testing of blockchain applications and infrastructure
Oversight of key signing procedures
Custody services for recovery key components

Your benefits

Blockchain/DLT applications and infrastructure that is resilient against cyber and digital risks
Mitigation of risks of loss, theft or misuse of digital assets
Compliance with regulatory requirements

More information about our services

Yves Bohren

Partner, Cyber & Digital Risk

KPMG Switzerland

mail
call

Legal Advisory

Our services

Managing complex legal considerations with a company’s legal team and/or regulators
Navigating the developing legal and regulatory landscape to ensure compliance

Your benefits

Legal certainty enables business opportunities and improves access to highly regulated institutions & institutional clients, capital markets and prospective investors
Early identification of legal obstacles saves costs
A solid legal framework ensures compliance and brings a competitive advantage

More information about our services

Andreas Hagi

Director, Financial Services

KPMG Switzerland

mail
call

Treasury Management

Our services

Selection and onboarding of digital wallet and payment providers for the purposes of enabling digital currency payments and collection
Advisory for blockchain operated transaction infrastructure (i.e. order-to-cash, procure-to-pay)

Your benefits

Transparent and educated selection of best-in-market providers for digital assets
Best-practice and compliant application of blockchain in intercompany and 3rd party disbursement

More information about our services

Martin Thomas

Partner, Head of Finance- and Treasury Management

KPMG Switzerland

mail
call

Accounting Advisory & Assurance

Our services

Financial accounting support considering unique characteristics of cryptocurrencies and blockchain transactions
Performance measurement & assurance
Creating accounting memos and transaction based documentation
Assistance with accurate financial reporting, including balance sheets, income statements, and cash flow statements that account for cryptocurrency holdings

Your benefits

Compliance with national and international reporting standards. Solid and consistent reporting framework
Accounting support investments, staking rewards, NFTs under various local an international accounting principles
Performance assurance reports providing certainty for prospective investors
Improved access to capital markets

More information about our services

Petrik Leutert

Director, Financial Services Accounting Advisory

KPMG Switzerland

mail
call

Tax Advisory

Our services

Tax efficient structuring of transactions and business activities (e.g. ICO’s, crypto custody solutions, immigration step-up, data centers)
Qualification of tokens for Swiss tax purposes (Swiss withholding tax, Swiss VAT, Swiss stamp transfer tax, Swiss income taxes)
Qualification of intermediaries as securities dealers for Swiss stamp transfer tax purposes
Digital assets / transactions tax reporting & account statements
Tax treatment of investments in crypto assets by individuals

Your benefits

Let us manage your taxes, so you can focus on growing your business
Legal certainty and compliance with tax requirements
Cost reduction and efficiency gains through automation of tax calculation and reporting

More information about our services

Thomas Brotzer

Partner, Head Financial Services Tax Switzerland, Global Head Insurance Tax

KPMG Switzerland

mail
call

Licencing & Regulatory Compliance

Our services

Support during the licensing process, with the SRO registrations and/or in the interaction with regulators
Support legal and regulatory compliance through out the full company life cycle
Set-up of products (e.g. funds, certificates, exchange traded products, etc.)

Your benefits

Ensuring legal compliance and streamlining the licensing process
Have a trusted partner supporting you in establishing an excellent relationship with the regulator
Avoidance of penalties and legal consequences

More information about our services

Romano Feuerstein

Director, Financial Services

KPMG Switzerland

mail
call

Business Strategy

Our services

Assessment of business strategy and planning, as well was target operating model, including process design and implementation
Impact analysis and benchmarking of process design and outsourcing decisions
Market studies, assessment of service- and product design, and scenario planning
Support in technical implementation

Your benefits

Enhanced operational efficiency
Competitive Advantage in the market
Mitigating risks associated with business strategy and operating model decisions
Strategic alignment leads to an overall better performance

More information about our services

Taher Balafrej

Partner, Digital Transformation

KPMG Switzerland

mail
call

Financial & Regulatory Audit: Readiness & Delivery

Our services

Financial, regulatory or license application audit
Acting as the dedicated internal audit function
Readiness assessments for new products, start-ups and ICO/IPO/SPAC
Independent review of the DLT setup at your company

Your benefits

Early identification of gaps and weaknesses amplifying a smooth launch process
Mitigation of risks and costly delays within the approval process
Comply with audit requirements

More information about our services

Romano Feuerstein

Director, Financial Services

KPMG Switzerland

mail
call

ESG Support

Our services

ESG assessments and support regarding the firm’s ESG strategy
Implementation of sustainable technical solutions

Your benefits

ESG compliance as requirement for business partners, enhancing reputation and stakeholder trust, risk management as well as access to capital
Cost savings through implementation of sustainable and efficient technologies

More information about our services

Patrick Schmucki

Director, Financial Services, Corporate Responsibility Officer

KPMG Switzerland

mail
call

Deal Advisory

Our services

Deal structuring, mergers and acquisitions & due diligence services

Your benefits

Mitigation of legal, due diligence & reputational risks
Profit from expertise and specialized knowledge to ensure a smooth and efficient transaction process
Financial and business risk mitigation

More information about our services

Christian Hintermann

Partner, Financial Services

KPMG Switzerland

mail
call

IT ISAE Attestation

Our services

We review and evaluate end-to-end processes, assessing risks and identifying relevant controls
We audit your controls following a risk-based approach in an efficient manner
We prepare the report in a way that is aligned with the relevant standards but also easy to understand

Your benefits

Provide the required assurance to your clients
Better manage risks of outsourced services
Report (e.g. SOC 2/ISAE3000) containing an audit opinion, details of services provided, as well as results of testing

More information about our services