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In this article, we will look at the traditional and well-known companies, who have decided to enter the world of cryptocurrencies despite the fact that the sector is still unregulated and in a deep correction. In the near future, the trend is expected to continue.
Company JPMorgan belongs to the group of world banking giants. In 2021, it announced that investors will be able to put their money into four funds Grayscale Investments and Osprey Funds. It was a rather surprising move, as CEO Jamie Dimon is not a fan of cryptocurrencies. But that is the past. In April of this year, Dimon shocked with his statement:
“The technology of blockchain and decentralized finance is admirable. I consider them new technologies.”
The Spanish banking giant has also decided to invest in the cryptocurrency sector. Through its Brazilian subsidiary, it offers crypto services to clients.
“We recognize that this is a market that is here to stay and is not necessarily a response to the positioning of the competition; it is simply an opinion that our client requested this type of asset, so we have to find the most correct way,” said Santander Brazil CEO Mario Leão.
The largest asset manager has started cooperation with the American cryptocurrency exchange Coinbase. Cooperation is mainly based on BTC. Global Head of Strategic Partnerships Joseph Chalom commented on the interest in cryptocurrencies:
“Our institutional clients are increasingly interested in gaining exposure to digital asset markets.”
But that’s not all from Blackrock. It recently launched its first spot BTC fund.
It is an American company that has a fast food chain. A few weeks ago, they announced the launch of an interesting game project called “Buy The Dip”. Thus, players can get cryptocurrencies for free, up to $200,000 worth. This is an interesting way to attract customers who can get to know and at the same time earn cryptocurrencies in this way.
The online payment giant announced a few weeks ago that it will launch a settlement option in stablecoins. The initial phase of the project will include the stablecoin USDC. In addition, the company is also planning a large internal project that would enable the payment of wages in cryptocurrencies.
The German banking giant announced in early 2022 that it had applied for a license to hold cryptocurrencies. The German regulatory authority must allow this. If successful, Commerzbank will be the first German bank to accept cryptocurrencies.
This is another major asset manager that has decided to enter the world of cryptocurrencies. However, this is not the company’s first experience with the digital currency sector. Their subsidiary was founded in 2018 Fidelity Digital Asset Services. Additionally, in April of this year, Fidelity announced a move to allow 401k retirement plan clients to invest in BTC. This project was perceived very positively by the public.
These well-known companies that decided to enter the world of cryptocurrencies will certainly not be the last. According to experts, this trend is expected to continue.