New research from the American top exchange Coinbase shows that Fortune 500 companies are slowly opening up to blockchain.
In a new report, Coinbase details how blockchain technology attracts top companies.
According to the crypto exchange, a survey of Fortune 500 executives found that more than half of them are currently working on on-chain projects.
“America’s best publicly traded companies are busier than ever in the supply chain. The number of on-chain projects announced by Fortune 100 companies increased 39% year over year, reaching an all-time high in the first quarter of 2024. A survey of Fortune 500 executives shows that 56% say their companies working on on-chain projects.
From the largest legacy brands to small businesses, stablecoins to tokenized T-bills, trusted names and products in the financial world are embracing blockchain technology and crypto, driving innovation and providing stepping stones for widespread adoption.”
Coinbase further notes that 70% of Fortune 500 executives are interested in learning about stablecoins, while 86% recognize the potential benefits of asset tokenization for their business. 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 instantly processed internationally and domestically at low fees, used for easy conversions, lower transaction fees, and intra-company money transfers.
Coinbase also reports that 86% of executives are interested in tokenization because it would streamline regulatory processes, reduce transaction times, improve fund traceability, deliver cost savings, and potentially boost engagement.
According to the survey, 55% of Fortune 500 executives who have yet to embrace blockchain technology say this is the case hesitantly because they don’t have the trusted talent for that.
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