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Skybridge Capital To Tokenize $300M On Avalanche Blockchain
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SkyBridge Capital to Tokenize $300M on Avalanche Blockchain

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Anthony Scaramucci, the founder and CEO of SkyBridge Capital, said on Tuesday that his company will move around $300 million from two funds into tokenized form on the blockchain. This is about 10% of SkyBridge’s total assets under management 

Tokenization is a topic that has been picked up in the finance space recently. It simply creates digital versions of real-world assets that can be traded on a blockchain just like Bitcoin or stablecoins. This is meant to make them easier and faster to exchange.

“I’m basically seeing 2026 into 2027 as the age of real-world tokenization,” Scaramucci said in an interview. He also predicted that more assets will shift to the blockchain in coming years.

$300 Million Set for Tokenization on Avalanche Blockchain

According to reports, SkyBridge will place its tokenized funds on Avalanche, a blockchain network that currently holds close to $2 billion worth of assets.

To carry out the plan, the firm will work with Tokeny, a company that helps investment managers turn traditional funds into blockchain-based products for wider access and easier trading.

One of the funds set for tokenization invests in cryptocurrencies such as Bitcoin, which the Securities and Exchange Commission has not categorized as securities, according to SkyBridge’s latest investor disclosure.

The second fund is described as a “fund of funds,” combining SkyBridge’s other vehicles, including its venture fund and its crypto-focused investments, giving token holders access to multiple strategies.

Tokenization is believed to cut costs and remove middlemen who usually check, process, and charge fees whenever financial products change hands.

Because blockchains act as decentralized databases, every transaction and asset record is transparent and verifiable, allowing anyone on the network to confirm ownership without needing outside verification.

A Future Without Spreadsheets and Bank Calls

Moveover, tokenization is gaining momentum among corporate companies, For instance, firms like BlackRock, Franklin Templeton, and VanEck recently launched tokenized money market funds on blockchains like Solana and Aptos.

Those who support this move picture a future where investors easily buy, sell, and move fund stakes on blockchain platforms without spreadsheets, wire transfers, or repeated communication with banks and financial middlemen.

According to John Wu, president of Ava Labs, the company behind Avalanche. “Ultimately, we want to achieve two things: bring activity on-chain from the traditional finance world and show the world that this technology can benefit them in terms of cost savings.”

Also Read: Ethereum Whales Panic-Sell as $ETH Price Drops



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Toyota explores blockchain to turn cars into tradable RWAs
Crypto Trends

Toyota explores blockchain to turn cars into tradable RWAs

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Japanese automaker giant Toyota is exploring the financialization of car ownership, turning fleets into assets.

Summary

  • Toyota has proposed a blockchain that links all key data on cars
  • NFTs can represent vehicle ownership, and traders can bundle them in a portfolio
  • The concept is especially useful in EVs, robo-taxis, and fleets

Toyota is actively exploring the concept of tokenizing cars. On Tuesday, August 19, Toyota Blockchain Lab released a white paper on the Mobility Orchestration Network (MON). This new blockchain would be able to track key vehicle data, potentially turning cars into tokenized assets.

The proposal explains that every vehicle, including logistic trucks, rental fleets, or even robo-taxis, leaves a trail of information behind it. This information, including registration, manufacturing, and maintenance, could be bundled as proof on the network into a token.

Diagram showing Mobility Orchestration Network connecting information across several regions | Source: Toyota Blockchain Lab

Each vehicle would have its own NFT, which comes together with all its history and key info. Potential buyers could then use this information to assess the car’s value. What is more, the network could enable users to buy these NFTs without having to physically control the vehicle.

How Toyota sees the future of car ownership

Toyota Blockchain Lab envisages several use cases for this network. For one, vehicles are expensive. However, unlike housing, they have so far eluded the trend toward financialization. With a blockchain network tracking their use, car ownership and use don’t have to be closely tied together.

For instance, carmakers could bundle multiple car NFTs into a fund, effectively enabling investment in car fleets. The same type of investment vehicle could be used to fund robo-taxi fleets or logistics fleets in emerging markets.

What is more, if cars can be securitized, fleet operators could be able to raise capital more cheaply than through loans. Still, the white paper does not go into how this financialization of car ownership could affect regular car owners or car prices.



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Helene Braun
NFT Gaming

Circle (CRCL) Acquires Malachite to Power Its Upcoming Blockchain Arc

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Stablecoin issuer Circle (CRCL) has acquired Malachite, the consensus engine that is set to underpin payments-focused blockchain Arc, from software development firm Informal Systems, according to a Monday press release.

Several people from Informal Systems will join Circle as part of the acquisition. The firms didn’t reveal details about pricing.

The deal comes as Circle, the company behind the $65 billion USDC (USDC) token, announced last week it’s building its own layer-1 blockchain designed for stablecoin finances, a recent trend among asset issuers aiming to capitalize on the booming sector. Stablecoins, a set of cryptocurrencies with prices tied to an external asset like the U.S. dollar, are projected to become a trillion dollar market and disrupt cross-border payments.

Malachite was built around the Tendermint consensus algorithm and was designed for flexibility and correctness in decentralized systems. Informal Systems developed it as a reusable foundation for blockchain infrastructure, with a focus on performance and security.

Malachite will remain open source under the Apache 2.0 license, leaving developers free to use and extend the technology, the press release said. Informal will continue supporting other use cases for Malachite and advance its other projects, including tools for distributed systems and cross-chain infrastructure.

Read more: Why Circle and Stripe (And Many Others) Are Launching Their Own Blockchains



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ASIC Appoints Panel to Probe ASX Following Failed Blockchain Project

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In brief

  • Australia’s corporate regulator has appointed a three-member expert panel to investigate the ASX.
  • The inquiry comes after the exchange scrapped its seven-year, $163.1 million blockchain project to replace its CHESS clearing system.
  • The panel, led by veteran banker Rob Whitfield, has to deliver its findings to ASIC by March 31, next year.

Australia’s corporate regulator has assembled a heavyweight panel of financial experts to examine the internal operations of the Australian Securities Exchange following a string of failures, including a disastrous $250 million (US$163.1 million) blockchain project that collapsed after seven years of development.

The Australian Securities and Investments Commission (ASIC) announced on Wednesday that it has appointed three panel members to conduct its inquiry into the ASX Group, focusing on governance, capability, and risk management frameworks within the nation’s primary stock exchange.

The panel will investigate core organizational and cultural drivers that contributed to recent compliance incidents, assess whether ASX has adequate capabilities for stable market infrastructure, and examine the group’s financial objectives and accountability frameworks, as per the inquiry’s terms of reference.

Rob Whitfield, former Westpac Banking Corporation CEO of Institutional Banking and current Commonwealth Bank director, will chair the panel. 

He brings three decades of banking experience and was awarded the Order of Australia in 2020 for his service to banking and public administration.

Joining Whitfield are Christine Holman, a non-executive director of AGL Ltd and Collins Foods Ltd with 35 years of experience across media, property, and technology sectors, and Guy Debelle, former Reserve Bank of Australia Deputy Governor and current chair of FundsSA.

Failing off-chain

The inquiry follows ASX’s failed blockchain-based CHESS replacement project, which began in 2016 as an ambitious attempt to modernize the exchange’s 25-year-old clearing and settlement system using distributed ledger technology.

After seven years of development delays and cost overruns, ASX shelved the project in November 2022 following a damning independent audit by Accenture that identified “significant challenges with the solution designs.” As a result, the exchange wrote off US$170 million in pre-tax losses.

By May 2023, ASX had officially abandoned blockchain technology entirely.

Project director Tim Whiteley confirmed at the time the exchange would “need to use a more conventional technology than in the original solution in order to achieve the business outcomes.”

The project’s collapse has since triggered legal action, with ASIC suing the ASX last August for alleged misleading statements about the project’s progress. 

The ASX had already paid a $1,050,000 penalty (approximately US$684,000) last March for separate compliance issues related to market integrity rules.

Kadan Stadelmann, Chief Technology Officer at Komodo Platform, said that ASX’s failures have “dented investor trust” and highlight the risks associated with over-promising on enterprise blockchain initiatives.



“The exchange has experienced several outages and failed to deliver on a promised blockchain project,” Stadelmann told Decrypt. “Without competition, the ASX has become bloated and ineffective.”

The panel has to deliver recommendations to address any identified shortcomings by March 31, 2026, with ASIC set to publish the report to guide potential regulatory action against the ASX.

The regulator and the exchange did not immediately respond to Decrypt’s request for comment.

Edited by Sebastian Sinclair

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James Van Straten
NFT Gaming

Metaplanet (3350) Raises $515M, Blockchain Group (ALTBG) Adds $4.8M in Concurrent BTC Treasury Equity Moves

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Metaplanet Inc (3350) and the Blockchain Group (ALTBG) both executed substantial equity capital raises as part of their initiatives to focus on bitcoin accumulation for treasury purposes.

Metaplanet announced the exercise of its 20th series of stock acquisition rights under the recently announced 555 Million Plan, raising 74.9 billion yen, ($515 million) in a single day. It issued 54 million new shares on Wednesday following the exercise of 540,000 stock acquisition rights, representing 29% of the total rights issued.

The issue is the first major capital injection under the plan and represents 10% of the full target. Metaplanet stock slumped as much as 15% before rallying strongly to close up 4%. CEO Simon Gerovich emphasized the strategic milestone with a post on X, highlighting the strong start to the program.

The Blockchain Group (ALTBG), for its part, announced a 4.1 million-euro ($4.8 million) capital increase through an at-the-market-type equity issuance agreement with TOBAM.

Shares in the Euronext Growth Paris-listed company were issued at an average price of 5.085 euros each. The capital raise aligns with the company’s strategy to increase the number of bitcoin per share on a fully diluted basis. The Blockchain Group currently holds 1,653 BTC and is the first of its kind in Europe pursuing such a model.

Blockchain Group shares were recently 3.7% lower at 4.785 euros.



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Solana network extensions will redefine blockchain scaling
Crypto Trends

Solana network extensions will redefine blockchain scaling

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Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial.

Ethereum (ETH) is betting big on a future filled with rollups. But in typical Solana (SOL) fashion, the network is taking a different route—one that doesn’t just scale more blockspace, but bespoke execution environments with first-class developer control.

Enter network extensions, Solana’s most important—and misunderstood—infrastructure innovation to date. While they’re often compared to sidechains or dismissed as Solana’s version of appchains, that framing undersells what’s really happening here. Network extensions allow for custom execution environments that don’t fragment liquidity or composability, unlocking a new frontier for application-specific blockspace without breaking the core network apart.

This isn’t just a scaling strategy. It’s a statement about how the future of crypto infrastructure will work.

Solana’s modular, L1-integrated extensions preserve validator security, support differentiated consensus and transaction logic, and offer developers more design surface without forcing them to launch new chains or settle for constrained rollups. That’s a big deal for anyone building high-performance applications—from games to decentralized physical infrastructure networks to real-world finance.

While Ethereum L2s offload computation and struggle with fragmented liquidity, Solana is building something quieter but more elegant: a unified, highly customizable L1 that treats specialization as a first-class primitive. And in doing so, it might just leapfrog the rollup wars entirely.

Customization without fragmentation

Ethereum’s L2s were built to scale. Solana’s network extensions were built to specialize. While Ethereum rollups increase throughput, they all run essentially the same playbook: general-purpose blockspace, minimal variation, and fragmented liquidity across siloed chains. The architecture improves efficiency, but not flexibility.

Solana takes a different view. Network extensions let developers define their own execution environments from the ground up. They can customize consensus mechanisms, transaction logic, dedicated storage, and isolated environments that don’t compete with mainnet traffic. More importantly, they do it without breaking composability or spinning up entirely new chains. 

Data availability, Solana style 

Unlike Ethereum’s standardized rollups, Solana has not mandated a single approach to network extensions. That’s by design. It invites experimentation, so long as extensions validate state transitions and anchor them to layer 1, preserving Solana’s unified state and liquidity. 

To achieve this, Solana has introduced specialized data lanes, akin to Ethereum’s blobspace for rollups. One of the most promising developments is ZK compression, a joint effort by Helius and Light Protocol. By compressing account state and using zk-proofs to validate state transitions, ZK compression offers a glimpse into how Solana can scale without sacrificing verifiability or speed. 

Comparing Ethereum’s approach: Throughput over customization

While Solana is enhancing execution environments with network extensions, Ethereum is focusing on two major scalability improvements: Layer-2 rollups and preconfirmations.

  • Rollups bundle transactions off-chain, then submit them to Ethereum L1. The tradeoff? Fragmented liquidity and an independent state. 
  • Preconfirmations aim to reduce perceived latency by issuing soft guarantees before block inclusion. Useful? Sure. Transformative? Not really. 

Solana’s approach skips the workaround entirely. With sub-second finality, it doesn’t need preconfirmations. And with network extensions, it avoids the L2 complexity tax by keeping specialized execution environments anchored to a unified chain.

Why this matters for builders 

For developers, network extensions lower the barriers to launching custom environments, without the overhead of managing an entirely new chain or compromising user experience. This unlocks a long tail of blockchain applications that don’t want to live inside generalized blockspace.

Customization has already proven its value as a driver of innovation.. Network extensions encourage experimentation by providing secure, flexible execution environments for applications.  Specifically, consumer-focused applications—where abstraction and UX optimization are paramount—stand to benefit the most.

Applications that stand to benefit include:

  • DeFi: Custom execution environments enable high-frequency trading, low-latency transactions, and built-in regulatory compliance features like KYC enforcement.
  • Supply chain management: Isolated environments facilitate complex logistics workflows, ensuring data integrity and real-time tracking without burdening the mainnet.
  • DePIN and IoT: Extensions can efficiently process data from IoT devices and integrate with blockchain-based DePIN networks.
  • Gaming: Dedicated resources allow for near-instant settlements and optimized in-game economies.

What comes next? 

Network extensions mark a shift in how blockchains can scale—not just by handling more transactions, but by supporting more types of applications. As more developers experiment with specialized execution environments, Solana’s infrastructure could evolve into a network of purpose-built layers that remain unified at the base. 

This model stands in contrast to the fragmentation creeping into other ecosystems. Rather than offloading scale to separate rollups or appchains, Solana keeps customization close to the core. That reduces friction, preserves composability, and gives developers more room to build without starting from scratch. This approach could yield custom-tailored DeFi platforms, next-gen consumer applications, and institutional blockchain environments compliant with real-world regulations.

The success of network extensions will depend on developer adoption, tooling, and real-world deployment. But the early signs are promising. If executed well, this strategy could redefine blockchain infrastructure—shifting the focus from mere scalability to flexibility, adaptability, and application-specific performance.

Aryan Sheikhalian

Aryan Sheikhalian is the head of research and helps with deal sourcing and due diligence at CMT Digital. Aryan joined CMT Digital in the summer of 2021 during Fund II to focus on blockchain research and venture. Aryan started his career at Accenture prior to starting college as part of the ‘Horizons Scholar’ program. He then worked and published research throughout his time at college with the Blockchain Research Institute under the leadership of Don Tapscott. He graduated from Columbia University in the City of New York with a B.A in Economics and Mathematics, where he also co-founded the Blockchain Club in the Fall of 2017.



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KindlyMD shareholders approve Bitcoin pivot via Nakamoto Holdings merger
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The Blockchain Group raises $7.7M to grow Bitcoin treasury

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The Blockchain Group has raised an additional €7.2 million, about $7.7 million, to support its plan of becoming Europe’s leading Bitcoin Treasury company. 

The announcement was made in a June 17 press release by the Paris-listed firm (Euronext: ALTBG.PA), which is pursuing a long-term strategy of increasing the amount of Bitcoin (BTC) per share it holds. 

The funding was secured through an “At-The-Market type” capital raise with asset manager TOBAM, where 1.6 million new shares were issued at an average price of €4.49. That price reflected a 20.76% discount from the stock’s June 13 close, due to market volatility during the raise.

The capital raise allows The Blockchain Group to continue adding BTC to its balance sheet, as part of a broader treasury strategy that started in late 2024.

🟠The Blockchain Group announces a capital increase totalling ~€7.2 million at an average price of ~€4.49 per share as part of its “ATM-type” capital increase program with TOBAM to pursue its Bitcoin Treasury Company strategy⚡️

Full Press Release (EN): https://t.co/KHPHTT0eeB… pic.twitter.com/f2xgxbi8Ez

— The Blockchain Group (@_ALTBG) June 17, 2025

This strategy mirrors capital market moves made by firms like Strategy and Japan’s Metaplanet, both of which hold significant amounts of Bitcoin. The Blockchain Group is one of the first in Europe to follow this path, aiming to accumulate up to 260,000 BTC, currently about  $24 billion, by 2033.

The recent capital raise saw TOBAM, through three of its funds, subscribe to all 1.6 million shares. The largest tranche went to the TOBAM Bitcoin CO2 Offset Fund, which acquired over 834,000 shares.

The other two funds, the Bitcoin Treasury Opportunities Fund and the Blockchain Equity Fund, took the remaining portion. As a result, TOBAM now holds 3.3% of The Blockchain Group’s capital on a fully diluted basis.

The capital raise follows a shareholder vote on June 11 that increased the company’s fundraising capacity to €500 million in nominal value. That resolution passed with over 95% approval, underlining strong investor support for the Bitcoin pivot.

On a fully diluted basis, the company’s share count now exceeds 313 million, factoring in all potential conversions from bonds, free share grants, and warrants.

The Blockchain Group’s model draws on the idea that Bitcoin is a long-term hedge against inflation and fiat currency risks. The company, which also develops decentralized tech, AI, and data tools, believes BTC can protect shareholder value and offer stronger returns than traditional treasury reserves. 

The firm joins a growing list of publicly traded companies shifting to a Bitcoin-focused strategy, a trend analysts say could grow to $330 billion in corporate holdings by 2029.





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Bitget enters three-year partnership with UNICEF Luxembourg to advance blockchain literacy among young women
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Bitget enters three-year partnership with UNICEF Luxembourg to advance blockchain literacy among young women

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Bitget has committed to a three-year partnership with UNICEF Luxembourg to advance digital skills and blockchain literacy among young people through the Game Changers Coalition programme.

In a press release sent to crypto.news, Bitget pledges to support the women-focused program with the aim of reaching up to 300,000 participants in 2025. These participants include adolescent girls, parents, mentors and teachers with blockchain skills from eight regions; Armenia, Brazil, Cambodia, India, Kazakhstan, Malaysia, Morocco, and South Africa.

Bitget’s educational arm, Bitget Academy, will aid the humanitarian body to establish its first interactive blockchain training module that will be held in-person and virtually. The module will focus on developing video game creation skills for teachers and the younger generation.

According to data from UNICEF, young women in low and middle-income countries miss out on $15 billion in economic opportunities due to a gap in internet access and digital skills compared to their male counterparts. As 90% of today’s job vacancies require digital skills, the Game Changers Coalition aims to close the gender skill gap.

Bitget and UNICEF Luxembourg announce partnership to deliver digital and tech skills for girls | Source: Bitget

Additionally, Bitget (BGB) is also planning to introduce major blockchain protocols and developers from across the web3 landscape to support the educational initiative led by UNICEF Luxembourg. These figures may be able to serve as mentors and partners in the programme.

Executive Director of UNICEF Luxembourg, Sandra Visscher believes that both the UN body and Bitget are in agreement that digital skills can become a powerful driver of opportunity and inclusion, especially in elevating young people.

“By collaborating with Bitget, we want to empower adolescent young people with the tools, knowledge, and confidence to shape their own futures,” said Visscher in her statement.

With the help of Bitget Academy, including support from the $10 million initiative Blockchain4Her, Bitget plans to enhance digital literacy and financial independence among women from an early age.

Bitget’s Blockchain4Her initiative has previously supported women through mentorship programs, funding opportunities, and educational resources. Another Bitget-led initiative, Blockchain4Youth also previously pledged $10 million in support of scholarships, workshops, and hackathons over five years.

Last April, Bitget teamed up with Avalanche to boost digital asset adoption and blockchain technology across various grassroot regions in India.



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Blockchain is the missing link for gaming.
NFT Gaming

Blockchain is the missing link for gaming.

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Opinion by: Kin Wai Lau, CEO of ZKcandy

Many people still don’t see the point of using blockchain in games. It’s a powerful tool that drives ownership and trading but is not vital for most gameplay types. 

The rise of AI shifts the equation. Blockchain isn’t just a bonus feature for games enhanced with artificial intelligence — it’s critical for building consistent gameplay. Fast processors and cloud servers are not enough anymore. AI agents and players need blockchain to enable a truly social gaming experience, where achievements can be recorded and carried across different titles, turning games into connected social ecosystems. Without decentralized infrastructure, agentic gameplay risks becoming a centralized walled garden where progress is temporary, creations are locked in, and experience is limited. 

Disposable creations

Today’s AI can build a personalized game flow as it learns and adapts in real time. But when AI runs within a centralized entity, its creations remain disposable, owned and monetized by corporations. 

Player interactions are stored privately on corporate servers. Memories and evolving character relationships die if the server shuts down. Game progress, AI agent evolution and generated content are tied to the lifecycle of a game session, account or corporate policy. If a player restarts the game or a publisher pulls the plug, all creations and achievements risk going in vain. When AI agents forget what they did yesterday, emerging storylines can’t unfold consistently, and NPCs don’t get smarter.

If the user owned at least part of the generated content, this could solve the problem, but the centralized nature of games doesn’t permit this either. 

Here’s another important thing: When AI adapts to the player, they become co-creators of the game. They build new characters, stories and items, but gamers can’t benefit from their own creations. Creativity gets exploited when players can’t capitalize on their contributions.

Memory, ownership and monetization

Blockchain is a natural fit to extend AI’s memory and grant users ownership of their creations.

A distributed ledger can record game contents onchain, including player actions and achievements. Most AI agents today operate within a single session: They don’t remember past interactions once the session ends. If the game progress records are on the blockchain, nothing gets lost. Agents can learn and evolve from session to session. This opens the way to consistent narratives and character arcs. 

When AI’s progress is recorded onchain, it is stored in users’ wallets, so players own and control their history — it’s not lost or locked away. Besides the memory benefits for agentic AI, ownership opens broad opportunities for managing in-game assets.

The problem with traditional games is that gamers rent, not own, things — everything remains under the game publisher’s control. If a player spends years shaping an AI companion or a unique item, that asset dies inside that game. It cannot be transferred to other games or platforms. It’s trapped.

Recent: Crypto gaming interest drops in April, overall ecosystem healthier: DappRadar

When AI is backed by blockchain, any generated item can be minted as an NFT and stay in the player’s wallet forever. No one will ever delete it or restrict user access to it: NFTs are stored in a decentralized manner. And this is for their safekeeping and utility, not speculation. 

Users can transfer their assets beyond a single title across virtual worlds. When blockchain preserves memory and traits, items and even NPCs carry a consistent identity wherever they go. 

Games become a unified social ecosystem. Players can compare what they’ve built, show off their achievements with AI, and appreciate others’ journeys. Social dynamics evolve around provable creativity, history and shared experiences, not simply leaderboards or loot boxes. That keeps players coming back — not just playing, but connecting.

Is it cost-efficient to store so much data onchain, though? Layer-2 and Layer-3 platforms have dramatically advanced over the past few years. They’ve become fast and cheap enough to handle thousands of transactions per second at a nearly invisible cost. Robust infrastructure has made it possible to store large amounts of data. Today’s blockchains can easily handle AI data accumulation for as many users as needed.

Finally, asset ownership opens monetization opportunities. When crafted carefully, they enhance the gameplay, not replace it, like in early play-to-earn products. 

AI agents will forge unique items and mint them as NFTs, giving rise to in-game marketplaces woven directly into gameplay. Agents will seek the best trades and autonomously execute them. Players will enjoy playing, skipping most of the technical friction. They will invest their time, creativity and skill in how they shape assets, characters or storylines together with AI. And when they can license, rent or sell them on open marketplaces, they gain a real sense of agency and reward, turning their contributions into lasting value.

While players monetize what they create, game developers profit, too. They can earn a share of every marketplace transaction, charge fees for minting or customization, and offer premium AI tools to creators. This approach goes beyond one-and-done sales: Devs earn as players create, trade and grow.

Embracing public ledgers is a broad trend: Large enterprises and banks increasingly rely on decentralized infrastructure. Blockchain has played a role in gaming for years, but it isn’t just a nice add-on anymore. It is critical to support agentic AI-driven entertainment through memory, ownership and monetization to make it a true social experience. Without Web3, next-gen games risk staying just a demo version of what they really can be. 

Opinion by: Kin Wai Lau, CEO of ZKcandy.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.



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Crypto Trends

Blockchain Use Surging at Fortune 500, Smaller Firms: Coinbase

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In brief

  • Coinbase looked at 100 Fortune 500 companies and found that 60% were investing in or working on blockchain-related projects.
  • Stablecoin use is surging, too.
  • More companies are planning to use the technology.

About three in five Fortune 500 companies are working on blockchain initiatives, Coinbase found in its State of Crypto second quarter report based on questions posed to executives from these firms. 

Roughly half the participants said that their companies had increased spending on blockchain while one in five said it was a key part of their firms’ strategies, although many also expressed concerns about regulation.

“So, the future of money is here and it has only just begun,” the report said. “But it’s clear greater regulatory certainty is still required for the potential of crypto to be fully realized.”

The report underscores the growing embrace of digital assets and their underlying technology with many companies that were once crypto skeptics now part of the mix of adopters. Financial services powerhouses BlackRock and Goldman Sachs are among others, have kickstarted blockchain initiatives but the survey found that companies in a range of industries and sizes have also incorporated blockchain into their businesses. 



The number of small and medium-sized businesses (SMBs) using blockchain has doubled over the past year, with more than 80% of these firms saying that crypto could help them “address at least one of their financial pain points,” Coinbase found. 

“The future of money is nowhere more visible than among small and medium businesses, the backbone of the U.S. economy,” the report said. “Onchain technology, especially for payments, holds great appeal to a group who see transaction fees and processing times as their top financial related pain points.”

Blockchain is the underlying tech on which Bitcoin‘s network runs: a distributed, online ledger that records transactions and cannot easily be tampered with as it uses cryptography. 

The technology has now lots of other uses, other than payments, with the likes of Walmart using it to track its food supply chain and major banks deploying it for their own financial products.

A number of small Nasdaq-listed companies have started buying Bitcoin as a way to secure better returns for their shareholders, a trend popularized by Strategy—formerly MicroStrategy—which pivoted from software development to become a Bitcoin treasury and now manages more than 582,000 BTC worth over $62 billion. 

The survey also found that 18% of the small and medium businesses surveyed used stablecoins. Stablecoins are digital tokens pegged to the value of non-volatile assets—typically the dollar. 

Coinbase contracted a third party to undertake the research, which looked at 100 of the Fortune 500 firms. It said that the initiatives included “internal company projects, investments, partnerships, and product/service launches.”

Edited by James Rubin

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