PwC’s Luxembourg Office to Accept Crypto Payments

• by admin
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• September 22, 2019
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• Cryptocurrency News

Starting Oct. 1, the Luxembourg branch of the world’s second-largest auditing firm, PricewaterhouseCoopers, will start accepting Bitcoin payments. PwC Luxembourg announced the decision in a news release on September 2.

PricewaterhouseCoopers (doing business as PwC) is a multinational professional services network with headquarters in London, United Kingdom.

PwC Luzembourg’s move reflects their commitment to comply with the needs of clients and support the growing national cryptocurrency ecosystem, the article says.

In the blog post, PwC Luxembourg expressed confidence in Bitcoin and called it “the first peer-to-peer payment mechanism that cannot be compromised and is based on a decentralised trust model.”

The firm acknowledges the challenges of this move and has carefully reviewed its internal policies and procedures to meet the standards required by the crypto industry. They added that PwC has partnered with an unnamed local exchange in order to provide the best payment experience.

By accepting crypto PwC can provide clients with daily insights into “AML/KYC-enhanced due diligence… public/private keys… and risks of custodial solutions,” said the Luxembourg office’s director of blockchain and crypto-assets, Thomas Campione.

Prior to this move, in June, PwC released Halo, a crypto auditing software solution that enables the firm to provide independent evidence of private-public key pairing and collect data about transactions and balances from blockchains.

To achieve this, PwC has been aggressively hiring an army of staff. In a recent news release, PwC said that it has more than 400 staff working on blockchain and crypto positions supported by more than 100 technical staff members. This made it the top recruiter for blockchain-related jobs on Indeed at the time.

On their website, the company published their vision regarding the blockchain and cryptocurrency. As part of their blockchain strategy, PwC Luxembourg has been organizing the blockchain-applied series that will bring together inspirational keynotes, panel discussions, blockchain exhibitions, and various networking opportunities for partners and clients.