Connect with us

Business

PwC Luxembourg Will Start Accepting Bitcoin from October 2019

Published

on

PwC Luxembourg

Team PwC at Luxembourg has decided to accept bitcoin as a payment from the next month which is October. The subsidiary of the world’s second-largest professional services was behind the processes and decisions to accept bitcoin as a mode of payment has finally taken the decision to accept it as a payment option.

PwC Luxembourg “Bitcoin cannot be compromised” – said officials at PwC

The Luxembourg branch of the Big Four auditing firms (KPMG, Deloitte, PwC and Ernst & Young) announced the new initiative on Sept. 2 in an official press release, claiming that this new move shows the firm’s commitment to addressing the needs of their clients as well as supporting the growing national crypto ecosystem of Luxembourg.

In the announcement, PwC Luxembourg expressed their confidence in the major cryptocurrency Bitcoin, calling it the “first peer-to-peer payment mechanism that cannot be compromised and is based on a decentralized trust model.”

 

Moreover…

The company at the release mentioned that they are aware of the existing shortcomings of cryptocurrencies and the challenges associated with the adoption of crypto on a large scale. The Luxembourg PwC firm added that it has partnered with an unnamed local regulated exchange in order to provide them with the best experience for its new crypto payment option. PwC Luxembourg wrote:

“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 and closely collaborated with a local regulated exchange to provide the best payment experience.”

PwC Luxembourg’s move to accept crypto payments indicates that there is a positive stance to the industry by its parent company PwC. In June this year, PwC announced the release of a crypto auditing software solution Halo, created as an auditing suite that allows PwC to provide independent evidence of private-public key pairing and collecting data about the transactions and balances from blockchains.

Earlier this year, it was also reported that PwC is the biggest recruiter for blockchain-related jobs on recruitment platform Indeed. In a recent press release, PwC said that it has more than 400 staff working on blockchain and crypto initiatives supported by over 100 technical team members.

We hope that the blockchain and crypto industry is accepted all around the world, as we can see the positive signs from big companies like Facebook, Deloitte, Jio and PwC.

Trending