PwC Hong Kong Office Announces Acceptance of Bitcoin Payments

PricewaterhouseCoopers (PwC), one of the “Big Four” global audit firms, has begun accepting Bitcoin as payment for the first time.

According to The Wall Street Journal, PwC’s Hong Kong office said it accepts the payment method in its work with local cryptocurrency and blockchain technology companies.

The transaction reportedly involved using Bitcoin in exchange for consulting services.

The move also shows how PwC is "embracing this new technology," said Raymund Chao, chairman of PwC Asia Pacific:

“It also demonstrates that Bitcoin and other existing cryptocurrencies have now evolved into a more widely accepted method of settlement.”

As one of the earliest companies in its industry to enter the cryptocurrency field, PwC began its inextricable relationship with cryptocurrency and blockchain technology as early as 2014.

In early statements, PwC said that Bitcoin has played an important role in driving innovation in a number of industries, and the company has now conducted a lot of research and is providing its own consulting services around blockchain technology.

As previously reported by Babbitt, French asset management company Tobam ​​announced the launch of Europe's first Bitcoin mutual fund and obtained approval from the French Financial Regulatory Authority. PwC provided audit services to the company.

In terms of blockchain technology, PwC has reached a cooperation with Alibaba to jointly develop a food tracking system based on blockchain technology to reduce food counterfeiting.