Consultancy firm PwC bolstered its digital capacity in Asia acquiring a stake in a Singapore-based blockchain specialist. The move comes as advisers increasingly accept digital currencies as means of payment.
PwC Singapore and PwC Hong Kong each acquired a small stake in VeChain, according to a media statement released on Friday. Singapore-based VeChain is a blockchain service provider specializing in anti-counterfeiting, supply chain management and the internet of things.
PwC plans to integrate VeChain’s service platform into its infrastructure, which will require the use of VeChain tokens in order to access and perform transactions.
In December 2017, PwC became the second of the big four audit firms to accept cryptocurrency payments for advisory services provided by the Hong Kong office. The Swiss unit of Ernst & Young (EY) was the first firm of its kind to accept bitcoin for both auditing and advisory services.
