Notable Highlights in Coinbase Crypto Report Q2/2024
The post Notable Highlights in Coinbase Crypto Report Q2/2024 appeared on BitcoinEthereumNews.com.
The “State of Crypto: Fortune 500 Moving Onchain” report by Coinbase, as of Q2/2024, provides an updated perspective on the adoption of blockchain by the largest companies in the United States. Additionally, the Coinbase crypto report highlights the trends in adopting RWA (Real-World Assets) and stablecoins, two sectors that have seen significant growth recently. Fortune 500 Ventures into Blockchain and Crypto Fortune 500 (F500) is a ranking list of the 500 largest companies in the United States, compiled by Fortune magazine based on total revenue achieved in the previous year. According to the Coinbase crypto report, the number of crypto, blockchain, or Web3 initiatives by F100 companies (the top 100 largest companies in the United States) increased by 39% compared to the same period in 2023, reaching a record high in Q1/2024. Additionally, survey results from the F500 group indicate that 56% of companies are implementing blockchain-related projects, primarily focusing on payment applications. Many products, services, and major names in the traditional financial sector (TradFi) are utilizing blockchain and crypto technology. Here are some notable examples: First and foremost are the spot Bitcoin ETFs and spot Ethereum ETFs. These ETF products help traditional investors access the crypto market easily, safely, and legally. Besides ETFs, RWA products related to government securities are attracting significant investor interest. BlackRock’s tokenized US T-Bill (short-term US government bonds) fund recently surpassed a market cap of $500 million, becoming the largest fund to date. By 2030, the RWA market is projected to reach $16 trillion, equivalent to the current GDP of the European Union (EU). Stablecoin transaction volume reached approximately $10 trillion in 2023, more than 10 times the amount of global remittances. PayPal and Stripe are companies striving to implement stablecoins in practice. Merchants on Stripe can now accept payments in USDC. Meanwhile, PayPal is…
Filed under: News - @ August 7, 2024 7:12 am