PricewaterhouseCoopers (PwC), a multinational audit and consultancy firm, has acquired a minority stake in Chinese startup VeChain, according to a press release May 4. VeChain Global Technology Holding Limited is a blockchain service provider specializing in anti-counterfeiting, supply chain management, and the Internet of Things (IoT).
With this move, PwC reportedly intends to integrate VeChain’s service platform into its infrastructure, which will require the use of VeChain Tokens in order to access and perform transactions. PwC Asia Pacific and Greater China Chairman Raymund Chao commented on the collaboration:
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