PwC Commits to Standards for Crypto Community

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PwC has formed a joint business relationship with Cred to help the marketplace understand key considerations in quickly moving towards enhanced standards that build confidence and trust in the crypto ecosystem and usher in the next 100M users of crypto assets.

“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, said Grainne McNamara, US Blockchain and Cryptocurrency Leader, PwC. “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.”

Many investors are looking for crypto assets that can be pegged to a stable fiat currency such as the US dollar, but these assets require a reserve ledger built for decentralized assets, that can provide 100% transparency and value substantiation. PwC’s experience will provide valuable perspective on how standards can be enhanced to facilitate a more transparent set of reserve functions, stablecoins and deposit and yield products. PWC will also provide valuable insights on governance, security, risk management, and controls to help shape the future of the ecosystem and associated industry practices.

“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 decentralization, transparency and accountability in a system that will evolve beyond the need for trusted intermediaries,” said Dan Schatt, Cred co-founder and President. “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.”

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