PwC Hong Kong and PwC Singapore have entered into a partnership with VeChain Global Technology Holding Limited (VeChain), a blockchain technology company specialized in supply chain management, Internet of Things, and anti-counterfeiting.
In light of this partnership, PwC Hong Kong and PwC Singapore have acquired a stake in VeChain (VEN / VET), which is scheduled to launch its mainnet in June.
The investment is thought to provide PwC with VeChain’s trust-based services through its platform, which will require the use of VeChain Tokens to access and perform transactions. VeChain’s platform has already been adopted by several established companies as part of their production system across various industries.
Raymund Chao, PwC Asia Pacific and Greater China Chairman opined that this is an important strategic collaboration to provide innovative professional services using blockchain technology.
He said,
“We are glad to establish a deeper relationship with VeChain, which aims to build a trusted and distributed business ecosystem to help address long-standing challenges in supply chain management, food trust and anti-counterfeiting areas. VeChain’s mission aligns with PwC’s purpose of solving important problems and building trust in society.”
PwC is one of the famed Big Four tax and accounting companies in the world, which also includes Deloitte, EY, and KPMG. It was the second mega professional services company to offer its clients the possibility of settling their invoices in Bitcoin.
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