DePwC Luxembourg, a subsidiary of the world’s second largest professional service provider, will accept Bitcoin (BTC) payments from its clients as from October 1, 2019.
Listening to the growing demand from the market.
The Luxembourg branch of the well-known accounting firm announced the news in a press release on September 2, stating that the initiative was taken to meet the needs of its clients and to support the growing national cryptocurrency ecosystem.
In the press release, PwC Luxembourg expressed confidence in Bitcoin (BTC) and called it “the first peer-to-peer payment mechanism that cannot be compromised and is based on a decentralized trust model.”
PwC Luxembourg, a firm whose purpose is to build trust in society and solve major problems, acknowledges both the disruptive dimension as well as the current shortcomings of cryptocurrencies and the challenges associated with acceptance of these cryptocurrencies.
However, looking beyond the obvious challenges, the Luxembourg firm strongly believes in the underlying technology as a medium to long-term standard in the economy and strives to position itself as an “early adopter”.
The move to embrace cryptocurrency payments is therefore a strong reflection of carefully listening to the growing demand from the market – including PwC Luxembourg clients – and offering them a secure payment alternative that reflects the evolution of the current economy.
According to the press release, PwC Luxembourg has entered into a partnership with an unnamed local regulated exchange to offer the best payment experience.
“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.”
The move by PwC Luxembourg to accept cryptocurrency payments is a result of the positive attitude towards the cryptocurrency industry by its parent company, and the step is therefore a building block of its strategy that revolves around proprietary global PwC-branded blockchain products, including a crypto auditing software solution enabling the firm to provide independent evidence of private-public key pairing and collect data about transactions and balances from blockchains.
PwC also offers professional support to market players who considering the application of blockchain and crypto assets, to transform their business or create new ones.