Crypto
Cryptocurrency is Embraced by Fortune 500 Companies
The TDR Three Key Takeaways regarding Fortune 500 Companies and Cryptocurrency:
- Fortune 500 companies experience a 39% increase in blockchain initiatives.
- PayPal and Stripe leverage stablecoins and cryptocurrency for efficient cross-border payments.
- Clear crypto regulations are essential for US economic leadership, according to the report.
The increasing integration of blockchain and cryptocurrency projects by America’s top companies highlights a significant shift in the financial sector. Fortune 100 companies have increased their blockchain initiatives by 39% year-over-year, indicating a growing trend among trusted financial entities, according to research conducted for Coinbase by The Block. These entities, including PayPal and Stripe, are embracing crypto, especially through the development of spot bitcoin ETFs and tokenized US Treasury products.
Fortune 500 companies are recognizing the potential of cryptocurrency to revolutionize the financial sector. The rise in blockchain adoption among these companies signifies a broader acceptance of digital currencies. Cryptocurrency offers solutions to various financial issues, such as high remittance costs and slow transaction processing times, which traditional financial systems struggle to address. This is especially beneficial for small businesses, with 68% of them believing that crypto can solve these challenges.
Companies like PayPal (NASDAQ: PYPL) and Stripe are making significant progress in integrating cryptocurrency (stablecoins) into their payment systems. This aims to make transactions more efficient and accessible, particularly for cross-border payments. By leveraging stablecoins, these companies can reduce the cost and time associated with remittances, providing a more streamlined experience for users. This development is crucial as it benefits individual consumers and enhances the operational efficiency of businesses engaged in international trade.
The adoption of tokenized US Treasury products offers a more flexible and secure way to access these stable assets. Clear crypto regulations are crucial for fostering innovation and retaining developer talent in the US, ensuring the country remains a leader in technology and attracts investments.
Cryptocurrency can increase financial access for the underbanked and unbanked, offering an alternative to traditional banking. This can reduce poverty and promote economic development in underserved regions.
US leadership in the crypto space is vital, with a USD-backed digital currency offering faster, cheaper transactions, increased inclusion, and enhanced security. Clear regulations and support for this innovation will help maintain US economic dominance and set global standards. Want to be updated on Cannabis, AI, Small Cap, and Crypto? Subscribe to our Daily Baked in Newsletter!
PHOENIX (AZFamily) — Cryptocurrency is appearing on more holiday wish lists as gift-givers look for alternatives to traditional presents.
A new survey from the National Cryptocurrency Association and PayPal shows 24% of Americans have given or are considering giving cryptocurrency this holiday season.
The survey also found that 17% of consumers would rather receive cryptocurrency than a gift card, and 31% of Americans believe crypto gifts are less likely to go unused than gift cards.
“It’s actually a trending holiday gift, especially compared to gift cards,” said Ali Tager, a spokesperson for the NCA. “We know crypto is becoming increasingly mainstream.”
Tager said people like receiving cryptocurrency because it has the potential to increase in value.
“There’s so much you can do with this technology and it’s still in its early days,” she said.
Financial advisor Angelica Prescod said there are other investment options to consider for gift-giving.
“One of them is just gifting people something simple. Maybe some shares of some stocks that you may already have, that you are gifting over, or you can give them the cash to do so and open up their own account and feel involved in the process,” Prescod said. “For most folks [cryptocurrency] is not really the go to.”
Gift-givers can also contribute to 529 plans for college and other education expenses.
“It’s that gift that potentially can keep on giving,” Prescod said.
For those still interested in giving cryptocurrency, experts recommend doing research first.
“Like with everything, anywhere, you always want to do your research. You want to make sure to verify your sources. You never want to take financial advice from strangers or click on random links that you receive,” Tager said.
The National Cryptocurrency Association offers a crypto simulator that helps users learn how to choose an exchange, set up a wallet, and send and receive cryptocurrency without spending real money.
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