PwC consists of several different financial firms and spans across 158 countries. The company currently boasts over 200,000 employees serving in quality assurance, advisory and tax service positions.
Founded by former PayPal technologists Dan Schatt and Lu Hua, Cred seeks to offer open access to cryptocurrency-based credit options, regardless of where the seeker may reside. With offices in Munich, San Francisco, Shanghai, Sydney and Singapore, the company has utilized the blockchain to secure over $250 million in lending capital for its clients.
Speaking with Bitcoin Magazine, Schatt describes the partnership as a milestone in the crypto industry. “This is one of the first times PwC has formed a joint business relationship with a company focused on the blockchain and crypto,” he explains.