PwC Collaborates with Decentralized Lending Platform Cred

In an official press release, PwC announced the partnership as an opportunity to build trust and confidence in cryptocurrencies and digital asset technology.

According to the official press release, PwC and Cred may offer a solution to the problems stablecoins have – lack of transparency and substantiation. These problems are the main reason big investors still feel uncertain about investing in cryptocurrencies and blockchain technology.

„Most of the investors are on the hunt of such digital assets that can be linked to a centralized, stable, and global fiat currency, such as the US dollar. But that would require a reverse ledger technology for digital currencies and assets. Only through developing such a ledger we can provide transparency and substantiation to investors”, Grainne McNamara, US Blockchain and Cryptocurrency Leader at PwC stated in the announcement.

PwC will also give its clients access to a set of insights on risk management, governance and security. The company tries to help the “rapidly evolving digital asset class” without much risk-taking.

The US venture capital fund Anderssen Horowitz has made a $15 million investment in MakerDAO – a blockchain tech startup that backs the US dollar with its stablecoin – DAI, in the last days of September.

Earlier last month, the Winklevoss brothers have received the “thumbs up” from NYC regulatory officers to launch their stablecoin, which will also back the USD.