- Relationship is aimed at helping to fast track confidence building in cryptosphere.
- PwC will offer education to startups and investors on how to advance in the blockchain technology.
- Aim to enhance the management and distribution of Stablecoins, and work to push for mass adoption.
PwC is in a new partnership with Cred to create more trust in cryptocurrencies and attract more traders into Stablecoins. The joint relationship is aimed at helping to fast-track confidence building in cryptosphere and usher in the next 100 million users of digital currencies.
Major Players Enter the Land of Crypto
PricewaterhouseCoopers (PWC) is a global professional service provider with a presence in 158 countries and employs over 200,000 people offering services in quality assurance, advisory and tax service positions. Cred avails open access cryptocurrency-based credit options to people anywhere and has used the blockchain technology to secure over $250 million in the lending capital on behalf of its clients; the company has offices in Munich, San Francisco, Shanghai, Sydney, and Singapore.
Commenting on the partnership Grainne McNamara, PwC’s US Blockchain and Cryptocurrency Leader stated:
“We are excited to work with Cred to help increase industry awareness regarding how the asset-backed digital token ecosystem can be secured and scaled on behalf of participants along the digital asset value chain.”
PwC will offer education to startups and investors alike on how to advance the Distributed Ledger Technology in addition to offering insight on several factors such as governance and control including security and risk management to improve on the existing industry practices.
Several institutions and individuals have expressed interest in cryptocurrencies but are worried about the existing cryptocurrency volatility leading to price swings with institutional investors worrying that their investments could disappear owing to the price drops.
Dan Schatt, Cred co-founder, and President said volatility is caused by lack of liquidity but he stated he is confident the development of Stablecoins would bring more transparency in the crypto market and boost the economy as more mainstream investors get involved. Shatt stated:
“We’re looking to help people borrow crypto the way they would fiat and treat it like any other asset class. If you go to any bank, it won’t offer crypto loans because it doesn’t acknowledge crypto as a real asset class.”
Encouraging News During a Bearish Market
This development represents a milestone in cryptoshpere as it is the first time that PwC is entering a partnership with a company that is focused on blockchain and cryptocurrency trade.
Cred, which is a founding partner of the Universal Protocol (UP) Alliance, is backed by Blockchain at Berkley and Brave, and it is hoped the alliance will enhance the management and distribution of Stablecoins, and works to push mass adoption by introducing new kinds of safeguards that make cryptocurrencies more convenient and practical.