Consulting Giant PwC Drafts Standards for Stablecoins
October 12, 2018
One of the world’s largest consulting companies, PricewaterhouseCoopers (PwC), has declared, it entered in partnership with blockchain startup Cred with the view to set standards for creating crypto tokens backed by fiat currencies.
As the message posted at the company’s official website says, the new partnership is to promote the market of stablecoins by gaining extra investor attention.
The auditing firm members see the would-be standards a solution for all the problems present on this market, for instance, those of transparency and coin rate stability:
“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.”
The PwC representatives have also mentioned in the document, they would provide its customers all necessary information as far as the issues of management, security and risk control. Grainne McNamara, the head of the PwC's bockchain division, said, the new standard will become a real kick up to reach actively developing class of assets with ultimate comfort level.
Remember that last month Gemini crypto exchange founders, the Winklewoss twins, launched their own stablecoin after being approved by the New York financial regulators.