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Large traditional companies have continued to use crypto in a variety of ways over the past year despite the current market downturn.
To keep you up to date on who is doing what to secure their slice of the crypto economy, we have compiled a list of 10 traditional companies that have recently made (another) step into the crypto world.
1. JPMorgan
Investment banking giant JP Morganin October this year, rolled out access to four funds Grayscale Investments and one of Osprey Fund. According to a report from CNBC, the launch proceeded as a low-key move by the investment bank given CEO Jamie Dimon’s previous criticism of crypto.
However, Dimon’s harsh stance on crypto appears to have eased as the CEO described blockchain technology and decentralized finance (DeFi) as “real, emerging technologies” in April this year.
2. Santander
Big spanish bank Santander groups Brazilian subsidiary Banco Santander S.A said in July this year that it plans to offer crypto-related services to customers “in the coming months.”
“We recognize that this is a market that is here to stay and it’s not necessarily a reaction to competitor positioning, it’s simply a view that our client requested these types of assets, so we have to.” finding what’s right and a more instructive way to do it,” Santander Brazil CEO Mario Leão was quoted as saying at the time.
3. Blackrock
Big Wealth Manager BlackRock partnered with the publicly traded crypto exchange in August coin base to allow the former’s institutional clients who also own digital assets on Coinbase to use Aladdin, the wealth manager’s suite of software tools, to manage their portfolios and perform risk analysis on investment decisions.
Currently, the partnership is only focused on Bitcoin (BTC), although BlackRock’s Global Head of Strategic Ecosystem Partnerships, Joseph Chalom, said the entire digital asset realm is of interest. “Our institutional clients are increasingly interested in getting exposure to the digital asset markets,” he said.
In addition to the Coinbase deal, Blackrock also launched its first spot bitcoin private trust in August. The product is available to US institutional clients and seeks to track Bitcoin’s performance, the company said.
4. Schwab asset management
wealth manager Schwab Earlier this month, the company released its Schwab Crypto Thematic Exchange Traded Fund (ETF), citing customer demand as the reason, CNBC reported.
Commenting on the launch, David Botset, the company’s Head of Equity Product and Strategy, called crypto “a very speculative investment,” before adding that the company “sees certain segments of Schwab investors looking to access this asset class in their portfolios.” .”
5. Chipotle
The US fast food chain chipotle In July of this year, a new interactive game called Buy The Dip was introduced. The game allows players to win $200,000 worth of free cryptocurrencies and $0.01 Guacamole and Queso Blanco promo codes until the end of the month. This was seen as a way for a traditional company to make itself more attractive in the eyes of crypto users.
6. Checkout.com
Online payment company Checkout.com announced in June a stablecoin settlement solution for its customers, which will initially support USD coins (USDC). Then, in August, the company announced that it was also exploring a new crypto payout tool that would allow workers to receive their salaries in crypto, according to a report by The Block.
7. Fairfax County Pension Schemes
A $6.8 billion Virginia-based pension fund has announced it will invest in crypto credit markets, calling the returns that can be generated from crypto yield farming strategies are “really attractive.”
Speaking to the Financial Times in August this year, Katherine Molnar, the company’s chief investment officer, said Fairfax County Police Officer Retirement Schemesaid that the fact that some people have now stepped back from the crypto market amid the downturn means there are good opportunities for those who are left.
8. Ontario Teachers Retirement Plan
Another pension fund organization that seems interested in the crypto space is the Ontario Teachers’ Pension Plan Board, with its investment in the major crypto exchange FTX. The latest investment by Ontario’s teachers (they also invested last October) was unveiled by FTX in January this year, when the exchange announced that the pension plan’s board of directors was among the participants in its latest $400 million funding round.
9. Commerzbank
German banking giant Commerzbank Earlier this year, he applied for a crypto custody license from the country’s financial regulator, BaFin. If Commerzbank can get the license, it would be the first bank in the country to take a serious step towards adopting digital assets – a key development in Europe’s traditionally conservative banking industry.
10. Loyalty
loyalty is another major wealth manager that has increasingly made strides into crypto. And although this company is a well-known player since it entered the space back in 2018 with its inception Fidelity Digital Asset Services, his venture into crypto hasn’t stopped. Notably, the company made headlines again in April of this year when it decided to allow individual 401(k) pension plan customers to invest in Bitcoin — as long as employers allow.
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Learn more:
– South Korea’s SK Securities teams up with Regional Bank for Crypto Custody, NFT Move
– Hyundai’s securities affiliate adds crypto data to its asset management platform
– $6.8 billion pension fund to invest in crypto lending market
– The Fidelity retirement plan allows employees to invest in Bitcoin
– Ontario teachers continue to invest in FTX, which is not available in Ontario
– Banking giant Santander to offer crypto trading to Brazilians as crypto ‘stays here’
– 10 Brazilian business giants who took the plunge into bitcoin and crypto
– Visa launches multiple “Bitcoin Cashback” cards with partners in Brazil and Argentina
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https://nov.link/cryptoanswers
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