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PwC Luxembourg Will Begin Accepting Bitcoin Next Month

Sep 03, 2019
byOmar Abbas

PwC’s Luxembourg office is dipping its toes in the crypto world by accepting Bitcoin as a method of payment starting October 1st 2019. The move by PwC acknowledges the ‘Big 4’ Auditor’s willingness to support the growing cryptocurrency ecosystem. The firm said in yesterday’s press release that “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.”

PwC Luxembourg acknowledged there are will be growing pains with adopting this new service and has collaborated very closely with a regulated Luxembourg-based crypto exchange to ensure a safe and seamless payment experience for its clients.

Blockchain & Crypto-Assets Director of PwC Luxembourg, Thomas Campione, stated in the firm’s press release: “As part of the Firm’s market assessment, what quickly became clear is that we could not continue to invest in the field, promote it, build solutions for clients and support their transformation while not also being exposed to it. Our role is to lead and it is only by being an active leader with exposure that we at PwC Luxembourg can understand the challenges inherent to the crypto world.”

PwC has over 400 staff members globally involved with crypto and other blockchain-related projects, along with over 100 technical staff members who focus strictly on blockchain technology. The purpose of PwC Luxembourg’s blockchain & crypto team is to “support existing and future clients in their blockchain and crypto-assets journey, to bridge between traditional and decentralised business, and between incumbents and blockchain and/or crypto-born players.”