PwC Luxembourg partnered with a Hong Kong exchange to start accepting cryptocurrency payments from local clients.
The move, announced on September 2, demonstrates PwC Luxembourg’s belief in blockchain technology’s “medium to long-term” role in the economy, as the company explained. They did not identify the exchange or say which coins it will accept.
Thomas Campione, the Luxembourg office’s director of blockchain and crypto-assets, said crypto might help PwC serve its blockchain clients, by providing them with day-to-day insights into “AML/KYC-enhanced due diligence… public/private keys… and risks of custodial solutions.”
PwC has been working with cryptocurrencies since 2014. Reportedly, four hundred of its 250,000 worldwide employees work on “crypto-topics,” supported by a 100-member blockchain team.
In announcing the move, PwC Luxembourg said it “acknowledges both the disruptive dimension as well as the current shortcomings of cryptocurrencies”.
The company carefully reviewed its internal policies and procedures to meet the standards of the crypto industry and closely collaborated with a local regulated exchange to ensure the best customer experience.
The current decision is not the only crypto project of the company. In June, PwC announced the Halo data auditing suite, a platform to monitor cryptocurrency transactions for a number of institutional clients.
PwC, being an auditing firm, also offers consulting to clients who are considering to make the blockchain and crypto-assets a part of their infrastructure to transform their business.
PwC is an example of a company that is carefully listening to demands of the market and clients and offering them a secure payment alternative reflecting the evolution of the global and local economies.
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