PwC launches Vulcan Digital Asset Services

Leading ‘Big Four’ consultancy firm PwC has launched Vulcan Digital Asset Services to enable digital assets to be used for everyday banking, commerce and other personal currency and asset related services.

Vulcan’s services include digital asset wallets, international payment processing, and investment and trading services, and the company says that it will soon add point-of-sale and merchant services and the ability to create and support native digital currencies and rewards based systems.

“Vulcan is a cloud-based platform that enables banks and corporates to offer a suite of new digital currency related products and services to individual, retail and institutional customers within a trusted, transparent and compliant ecosystem. It is the first of its kind globally and has been created to bring digital assets and currency to the mainstream,” said PwC director and Vulcan lead Robert Allen.

The platform is currently being piloted by an international banking group and a Central Bank, and being assessed by an airline and another three multinational banks.

Vulcan has been built by PwC in conjunction with enterprise blockchain solutions provider Bloq, blockchain integration, reporting, compliance and analytics provider Libra, and digital identity start-up Netki.