60% of the Fortune 500 companies are testing crypto payment tools

A survey conducted by Coinbase has revealed that 60% of Fortune 500 companies have implemented blockchain initiatives. The crypto exchange conducted a survey on company executives and decision-makers at small and medium-sized firms in the US to evaluate the trends in crypto adoption.

Based on a survey by EY and Parthenon in January, nearly 20% of Fortune 500 executives now see on-chain projects as an important part of their long-term plan. Coinbase also said that around 80% of institutional buyers plan to put more money and increase their crypto exposure this year.

In addition, the study found that 46% of small and medium-sized businesses that don’t already use crypto plan to start in the next three years. 82% of these businesses believed this technology could help them with some of their financial pain points.

SMBs are testing crypto payment tools like stablecoins

The study says that small and medium-sized businesses (SMBs) are testing crypto payment tools like stablecoins more and more. Stablecoin usage is exploding with a 54% growth in supply year-on-year.

Meanwhile, the stablecoin sector has officially vaulted beyond the $250 billion milestone, according to data from defillama.com. Over the past week, an additional $2.51 billion has poured into the swelling ecosystem of fiat-pegged digital tokens. Tether (USDT) remains the heavyweight, commanding a dominant 62.05% share.

Currently, USDT leads the top ten stablecoins by market capitalization, boasting a valuation of $155.408 billion. Circle’s USDC follows at $60.631 billion. Ethena’s USDe takes third with $5.897 billion, showing an upward trend. DAI from Sky is in fourth with $4.354 billion, narrowly edging out Sky’s USDS at $4.05 billion.

Blackrock’s BUIDL holds a sixth place at $2.892 billion, followed by World Liberty Financial’s USD1 at $2.177 billion. Ethena’s second entry, USDTB, is eighth with $1.455 billion. First Digital’s FDUSD ranks ninth at $1.301 billion, and Paypal’s PYUSD rounds out the top ten after recently topping $1.004 billion.

In addition, a French bank, Societe Generale, has launched the USD-pegged stablecoin CoinVertible (USDCV). It has been issued on the Ethereum and Solana blockchains with the Bank of New York Mellon Corporation (BNY Mellon) as custodian.

This trend points to a closer connection between digital assets and traditional finance (TradFi) markets. This means stablecoins may soon be an important part of the world’s financial system.

500 executives ask for clearer regulations.

Even with crypto’s popularity, more clear rules are needed for crypto to reach its full potential. 90% of F500 executives polled said that clear crypto regulations are needed to encourage innovation in the US.

“It’s clear greater regulatory certainty is still required for the potential of crypto to be fully realized. That’s why passing market structure and stablecoin legislation is so critical to the future of crypto innovation in America,” Coinbase wrote. 

The report comes as pro-crypto President Donald Trump sets a new tone for regulatory engagement, with agencies reportedly encouraged to work more closely with the industry. 

The SEC’s crypto task force, headed by Commissioner Hester Peirce, first in line, has held 5 roundtables so far to discuss crypto trading regulation, custody, tokenization, and the status of tokens as securities. 

Also, the pro-crypto SEC chairman Paul Atkins has pushed for fairer crypto laws that have pushed the market to a new level.

In yesterday’s roundtable, Atkins said, “I’m in favor of affording greater flexibility to market participants to self-custody crypto assets, especially where intermediation imposes unnecessary transaction costs or restricts the ability to engage in staking and other on-chain activities.”

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