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Blockchain adoption is hitting a high note among the world’s largest companies, especially in the United States. According to Coinbase’s latest report, Fortune 100 companies saw a 39% increase in blockchain projects year-over-year, reaching a record high in Q1 2024. 
Also Read: <a href="https://www.cryptopolitan.com/how-to-understand-and-read-blockchain-data/">How to Understand and Read Blockchain Data</a> 
These projects span cryptocurrency, blockchain, and web3 initiatives, reflecting a significant trend in corporate America. A survey of Fortune 500 executives revealed that 56% of companies are actively engaged in on-chain projects, including consumer-facing payment applications. 
<h2 class="wp-block-heading" id="fortune-500-companies-embrace-blockchain">Fortune 500 companies embrace blockchain</h2> 
<a href="https://x.com/coinbase/status/1800898687591141854" rel="nofollow" target="_blank">According</a> to Coinbase, top names in finance are driving this wave of blockchain adoption. The launch of spot Bitcoin ETFs met huge demand, with assets under management now exceeding $63 billion. The SEC’s recent approval for spot Ether ETFs, pending CFTC approval, marks another milestone, expanding access to spot crypto through familiar and trusted products. 
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 <img loading="lazy" decoding="async" class="wp-image-539866 size-full" src="https://www.cryptopolitan.com/wp-content/uploads/2024/06/Screenshot-2024-06-12-at-23.00.44.jpg" alt="Blockchain adoption surges among Fortune 500 companies" width="1920" height="983" srcset="https://www.cryptopolitan.com/wp-content/uploads/2024/06/Screenshot-2024-06-12-at-23.00.44.jpg 1920w, https://www.cryptopolitan.com/wp-content/uploads/2024/06/Screenshot-2024-06-12-at-23.00.44-300x154.jpg 300w, https://www.cryptopolitan.com/wp-content/uploads/2024/06/Screenshot-2024-06-12-at-23.00.44-1200x614.jpg 1200w, https://www.cryptopolitan.com/wp-content/uploads/2024/06/Screenshot-2024-06-12-at-23.00.44-768x393.jpg 768w, https://www.cryptopolitan.com/wp-content/uploads/2024/06/Screenshot-2024-06-12-at-23.00.44-1536x786.jpg 1536w" sizes="(max-width: 1920px) 100vw, 1920px">
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Beyond ETFs, on-chain government securities are drawing new interest in real-world asset tokenization. High interest rates have boosted demand for on-chain T-bills, with tokenized U.S. Treasury products surging over 1,000% since early 2023, reaching $1.29 billion. BlackRock’s tokenized Treasury fund BUIDL, at $382 million, recently surpassed Franklin Templeton’s $368 million fund to become the largest. According to the report, by 2030, the tokenized asset market is expected to hit $16 trillion, equivalent to the EU’s current GDP. 
Payment giants PayPal and Stripe are also advancing blockchain adoption. Stripe merchants can now accept USDC payments via Ethereum, Solana, and Polygon through Circle, automatically converting to fiat currency. PayPal supports cross-border transfers for stablecoin users in around 160 countries without transaction fees, compared to the global remittance market’s average charges of 4.45% to 6.39%. In 2023, stablecoins’ annual settlement volume hit $10 trillion, more than 10 times the worldwide remittance amount. 
<h2 class="wp-block-heading" id="small-businesses-join-the-party">Small businesses join the party</h2> 
The blockchain trend isn’t limited to large corporations. Coinbase found that small businesses in the U.S., known for their trustworthiness, are exploring crypto solutions. About 68% of small businesses believe crypto can address financial pain points like transaction fees and processing times. Coinbase data emphasizes the importance of the U.S. cultivating necessary talent rather than losing it overseas. Currently, only 26% of crypto developers are U.S.-based, down 14 points over the past five years. 
Also Read: <a href="https://www.cryptopolitan.com/30-questions-and-answers-layer-2-blockchain/">30 Questions and Answers About Layer-2 Blockchain</a> 
Concerns over talent availability are a major hurdle for Fortune 500 companies, surpassing regulatory concerns. Half the small businesses surveyed indicated they would seek candidates familiar with crypto for finance, legal, or IT roles in their next hiring cycle. Clear crypto rules are crucial to retaining developers in the U.S. and continuing to lead technological innovation globally. 
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Improving financial access through blockchain is also vital. For the underbanked and unbanked, 48% of Fortune 500 executives believe crypto could increase access to the financial system and wealth creation. Executives also noted that banks should find more ways to work with crypto-using companies to foster innovation. 
They show a strong interest in U.S. leadership in blockchain technology, which aligns with Donald Trump’s vision. About 79% are willing to collaborate on initiatives with U.S. partners, up from 73% a year ago. Additionally, 72% agree that having a USD-backed digital currency would keep the U.S. economy competitive globally. 
Cryptopolitan reporting by Jai Hamid

Blockchain adoption surges among Fortune 500 companies

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