PricewaterhouseCoopers (PwC) has joined hands with the co-founder of UP Alliance, Cred, and a new stable coin to help increase awareness on how asset-backed digital token ecosystems can be scaled and secured to support new cryptocurrency asset users.
PwC, a professional services firm headquartered in London, UK, has collaborated with Cred, the co-founder of UP alliance, and a new USD stablecoin in a bid to help the cryptocurrency marketplace enhance confidence and trust standards in the crypto ecosystem to usher in the next 100 million users of digital assets.
Speaking about the partnership, PwC’s U.S. Blockchain and Cryptocurrency head, Grainne McNamara, said:
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… We are eager to leverage our proven industry experience to support a quickly developing asset class and its associated market infrastructure components. We believe this exploration of the blockchain infrastructure and associated operational frameworks can help the industry develop an increased level of comfort.
PwC to provide its expertise to help shape the future cryptocurrency ecosystem
Most investors in the cryptocurrency space are in search of stable fiat-pegged cryptocurrencies, but such assets need to have a reserve ledger that can provide 100 percent transparency, in order to provide value. PwC brings to the table its experience that will provide a valuable outlook on how to enhance standards to facilitate an even more transparent set of stablecoins and reserve functions. It will also offer valuable insights when it comes to risk management, security, and governance to help shape the future of cryptocurrency ecosystem as well as any associated industry practices.
The world is moving towards decentralisation, transparency, and accountability
Speaking about the commitment of PwC’s in the partnership, the co-founder and President of Cred, Dan Schacht, explained:
PwC’s commitment to the crypto community at large sends a very strong message to retail investors, mainstream financial services providers and the crypto enthusiasts that the world is moving toward decentralisation, transparency and accountability in a system that will evolve beyond the need for trusted intermediaries.
He further noted that:
This will help the ecosystem evaluate key considerations as standards are enhanced relative to the creation and management of stablecoins and universal digital assets that support mass adoption of crypto assets.