VeChain Partners with ‘Big Four’ Giant PwC in Joint Business Relationship
Chinese cryptocurrency startup VeChain has announced a new partnership with the multinational accounting firm PricewaterCoopers (PwC).
According to a post on its twitter account on Friday, VeChain foundation said it is currently in discussion with PwC to provide trust based services on the VeChain platform.
“PwC HK is now in discussions with VeChain to provide trust based services on the VeChain platform. This will require the use of VeChain Tokens to access and perform transactions on the platform. ”
Thank you @RaymundChao and rest of PwC executives for your innovation. https://t.co/Us8z8pOrYN
— VeChain Foundation (@vechainofficial) May 4, 2018
The announcement comes just days after VeChain’s (VEN’s) rebranding to VET in advance of its mainnet release. It was in May of last year that PwC China and PwC Singapore announced that VeChain would become a portfolio company of their incubation programme.
Since then, VeChain has gained a lot of popularity, moving quickly to one of the top 15 cryptocurrencies by market cap. This partnership could drive more investors, and more capital towards their cryptocurrency.
PricewaterhouseCoopers is the second biggest professional services firm in the world with offices in 158 countries. They have been ranked the most prestigious accounting firm in the world by Vault Accounting 50 for seven years in a row.
In a statement released earlier today, PwC Hong Kong and PwC Singapore revealed that as a part of the partnership, the two subsidiaries of PwC bought an ownership interest in VeChain mainly to utilize the Internet of Things (IoT) network of VeChain to assist large-scale businesses.
Raymund Chao, the chairman of PwC Asia Pacific and Greater China, said:
“We are glad to establish a deeper relationship with VeChain, which aims to build a trusted and distributed business ecosystem to help address long-standing challenges in supply chain management, food trust and anti-counterfeiting areas. VeChain’s mission aligns with PwC’s purpose of solving important problems and building trust in society.”
Chao emphasized that the strategic collaboration with VeChain marks the first real initiative of PwC to extensively utilize blockchain technology to provide innovative professional services.
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