New research by the top US-based crypto exchange Coinbase reveals that Fortune 500 companies are slowly opening up to blockchain.
In a new report, Coinbase details how blockchain technology is drawing top blue-chip corporations.
-->According to the crypto exchange, a survey of Fortune 500 executives found that over half of them are currently working on on-chain projects.
“America’s top public companies are busier on-chain than ever. On-chain projects announced by Fortune 100 companies have increased 39 year-over-year and hit a record high in Q1 2024. A survey of Fortune 500 executives finds that 56 say their companies are working on on-chain projects.
From the biggest legacy brands to small business, stablecoins to tokenized T-bills, trusted names and products in finance are embracing blockchain technology and crypto, driving innovation and providing on-ramps for widespread adoption.”
Coinbase goes on to note that 70 of Fortune 500 executives are interested in learning about stablecoins while 86 recognize the potential benefits of asset tokenization for their company. About 35 say they are drawing up tokenization plans.
According to Coinbase, 70 of Fortune 500 executives are interested in stablecoins because they can be processed instantly for a low cost internationally and domestically, be used for easy conversions, lower transaction fees and transfer of money within the company.
Coinbase also reports that 86 of executives are interested in tokenization because it would streamline regulatory processes, reduce transaction times, improve the traceability of funds, cost savings, and potentially drive engagement.
According to the research, 55 of Fortune 500 executives who have yet to adopt blockchain technology say they are hesitant because they lack the trusted talent to do so.
