News
PwC accelerator selects 11 tokenization and digital asset startups – Ledger Insights
PwC has launched the latest iteration of its Stairs program that connects large organizations with startups, or in this case with scale-ups. It chose 11 startups from 700 applications Tokenization and digital assets space. PwC has partnered with GrowthBuilders to provide sales and marketing support as well. However, the most valuable element is the introduction of large enterprises within the PwC ecosystem.
Many of the startups fall into two categories: companies providing identity-related services and tokenization solutions. On the identity front we include Archipels, Trust Stamp, Truvity and Vidos. Tokenization platforms include veterans like Vertalo along with Spain’s Brickken and California’s Zoniqx.
Other tokenization offerings are more specialized such as Hedgeguard, a fund tokenization protocol. It is not enough to take a fund and tokenize it. It also includes portfolio management and middle office tools.
Venly is a classic example of a pivot startup. When we wrote about startups Fundraising of 23 million dollars two years ago, its solutions included a digital wallet, an NFT marketplace, and NFT tools to help with drops. While gaming and entertainment target markets have expanded to e-commerce, today there is more emphasis on wallets. There is no mention of NFTs, a sector currently in difficulty. Starbucks backed out. Nike had great success during the NFT boom, but its .Swoosh initiative somewhat failed.
Rounding out the Scale group is web3 risk management solution Alterscope and digital asset custody technology provider Custodiex. It claims to provide a “true cold storage” with real-time access.
Meanwhile, among the Big 4, PwC he is perhaps the highest profile in web3, particularly in Asia. In terms of technological development, EY has made significant contributions to making permissionless blockchains more usable by businesses.