Audit large PwC is the newest mainstream agency to indicate new curiosity in digital currencies. This week it introduced a partnership with decentralized lending platform Cred to advise on higher requirements for stablecoins.
Whereas particulars of the partnership are mild, Cred is working by itself stablecoin tied to the U.S. greenback, and is hoping to keep away from the errors of sure rivals by guaranteeing confidence in its operations from the bottom up.
PwC’s total curiosity right here is to construct broader belief so it may well assist hundreds of thousands of latest customers achieve digital property — and presumably create new income streams for its world skilled providers enterprise within the course of.
Like IBM and different firms giant and small which might be taking a look at stablecoins at the moment, PwC is drawn to the mix of conventional and new financial programs. Stablecoins are digital currencies pegged to a secure asset, similar to gold or fiat currencies, or backed by collateral (that is also a cryptocurrency); the association is analogous to how some international locations peg their nationwide currencies to the greenback.