Bitcoin to be accepted by PwC Luxembourg from October 2019

PwC Luxembourg, a subsidiary of the world’s second-largest professional services firm PwC, recently announced that it will start accepting Bitcoin (BTC) payments from Oct. 1. The move shows the firm’s commitment to abide by the needs of clients as well as assist the growing national crypto ecosystem. In the announcement, PwC Luxembourg expressed confidence in Bitcoin, calling it the “first peer-to-peer payment mechanism that cannot be compromised and is based on a decentralized trust model.”

The company stated that it is conscious of the existing shortcomings of cryptocurrencies and the challenges associated with its adoption. The company has also partnered with an unnamed regulated local exchange in order to provide the best experience. It 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 arises from the positive stance to the industry by its parent company, PwC. In June, PwC announced the release of Halo, a crypto auditing software solution. Halo will allow the firm to provide independent evidence of private-public key pairing and collect data about transactions and balances from blockchains.