56% of Fortune 500 Executives Test On-Chain Projects: Coinbase
Coinbase wrote that institutional adoption of cryptocurrency is increasing, with 56% of Fortune 500 companies developing on-chain projects. Similarly, blockchain projects carried out by corporate companies have increased in the last 12 months as use cases and efforts towards cross-border transactions have increased. This underlines the need for clear regulation to encourage greater investment.
Corporate Executives Adopt Blockchain
A new Coinbase survey shows that leading American companies are more supportive of blockchain technology than ever before. According to the report, blockchain projects were announced luck 100 companies increased by 39% year-on-year, reaching an all-time high in the first quarter of 2024. Additionally, 56% of Fortune 500 company executives say that work is continuing on on-chain projects.
The main drivers of this trend include spot Bitcoin ETFs, tokenization and stablecoins. Location confirmation Bitcoin ETFs Institutional crypto investment has increased in the US. It creates a new window for traditional investors to increase their exposure to the asset. As a result, the Bitcoin price has surged to an all-time high of over $73,000 with over $62 billion in assets under management. The move by traditional firms into Bitcoin has sparked moves into spot Ethereum ETFs.
Tokenization of real-world assets on blockchain has increased over the past twelve months, driven by testing and programs from major financial institutions. Payment platforms such as Stripe and PayPal slowly shifting towards stablecoins, increasing global and institutional adoption
Coinbase Trying to Clean Up the Rules
Digital asset enthusiasts continue to push for clear regulations in the US following recent lawsuits with crypto executives. Coinbase continues its pursuit of crypto legislation that highlights several benefits. The report points to better adoption, an important reason for its ability to encourage investment in regulated markets.
Many executives lament the loss of cryptocurrency talent to other countries and are urging lawmakers to pass pro-industry regulations. Additionally, 48% of survey respondents say technology can provide greater access to the financial market.
So read: Riot Platforms Acquired 13% Stake in Bitfarms to Prevent Enemy Takeover
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David is a financial news writer with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has a talent for keeping up with breaking news. Staying on top of trends, David is knowledgeable about regulations, partnerships, crypto assets, stocks, NFTs, etc. He reported in various fields such as. Away from the financial markets, David cycles and rides horses.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.
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