PwC Luxembourg to Start Accepting Bitcoin from October 2019: Official

PwC Luxembourg, a subsidiary of the world’s second-largest professional services firm, will start accepting Bitcoin (BTC) payments from Oct. 1.

“Bitcoin cannot be compromised”

The Luxembourg branch of the “Big Four” auditing firm announced the initiative in a news release on Sept. 2, claiming the move shows its commitment to comply with the needs of clients as well as support 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 decentralised trust model.”

Partners yet to be unveiled

The company said it is aware of the existing shortcomings of cryptocurrencies and the challenges associated with its adoption. PwC Luxembourg added that it has 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 stems 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 enabling the firm to provide independent evidence of private-public key pairing and collect data about transactions and balances from blockchains.

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