Exscudo, the blockchain-based financial ecosystem, finds a legal partner in the person of PricewaterhouseCoopers Legal OU, member of one of the most prestigious consulting and audit companies in the world.
[Note: This is a Press Release]
The new partnership is aimed at licensing Exscudo as an alternative payment system. This will allow the company to trade fiat and cryptocurrencies legally. Obtaining this license in Estonia is the first step to becoming fully compliant with EU and other international financial regulations.
As a consequence, Exscudo will be able to open merchant bank accounts in the EU jurisdiction. This will enable the company to manage fiat currencies as a financial organization.
“We are excited to welcome the law firm PwC Legal as our legal partner. Our team is absolutely convinced that the vast cross-industry expertise of PwC will help Exscudo provide high quality financial services for our clients all over the world”, – says Andrew Zimine, CEO and Founder of Exscudo.
PwC is also designing a wide range of legal documents and procedures covering the acquisition, verification and storage of user data. Besides, PwC also instructs Exscudo regarding the compliance procedures for private users as well as for companies and organizations willing to manage fiat currencies. Since different jurisdictions have different requirements concerning the KYC procedure, Exscudo starts with the Estonian legislation and proceeds to general EU specifications.
The partnership provides for a quality guarantee for Exscudo partners and users in terms of legal compliance and reliability.
The ICO of Exscudo begins on April 25. Pre-orders are available from April 13.