PwCs Luxembourg office to accept crypto payments

Wednesday 4 September 2019 08:54 CET | News

PwC’s Luxembourg branch has announced it will accept cryptocurrency payments from clients starting with October 2019.

The move is a response to client demand and demonstrates PwC Luxembourg’s belief in blockchain technology’s ‘medium to long-term’ role in the economy, according to CoinDesk. The branch said it collaborated with a local exchange to facilitate the payments, however it did not identify the exchange or say which coins it will accept.

Taking crypto may help PwC serve its blockchain clients, by providing day-to-day insight into ‘AML/KYC-enhanced due diligence, public/private keys, and risks of custodial solutions’. PwC has been working with cryptocurrencies since 2014. Moreover, four hundred of its 250,000 worldwide employees work on crypto-topics, supported by a 100-member technical team devoted to blockchain.

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Keywords: PwC, cryptocurrency, crypto payments, blockchain, Luxembourg, KYC, AML, CDD
Countries: World