The post Fortune 500 Companies Are Moving On-Chain, With 35% of Executives Drawing Up Tokenization Plans: Coinbase Report appeared on BitcoinEthereumNews.com.

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. Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X, Facebook and Telegram Surf The Daily…

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Filed under: News - @ June 12, 2024 7:12 pm