Blockchain Initiatives Have Been Adopted by 60% of Fortune 500 Companies: Coinbase Survey

The future of money has arrived, with 60% of Fortune 500 companies actively working on blockchain initiatives, digital asset exchange Coinbase (COIN) said in its second quarter State of Crypto report published Tuesday.

Stablecoin usage is exploding with a 54% growth in supply year-on-year, more than one third of small and medium sized businesses (SMB) are using crypto, and 60% of Fortune 500 companies are working on blockchain projects, the report said.

Adoption is expected to continue to grow. Twenty percent of Fortune 500 executives said that onchain initiatives were a key part of their company’s strategy moving forward, and more than 80% of institutional investors plan to increase their exposure to crypto this year.

Forty-six percent of small and medium businesses who don’t use crypto are planning to start using it in the next three years, the report said, and 82% of these companies were of the view that usage of this technology could help address some of their “financial pain points.”

Still, for crypto to reach its full potential, greater regulatory clarity is needed. 90% of F500 execs surveyed said that clear crypto regulation in the U.S. is needed to support innovation.

Coinbase used third-party research firms to survey 100 Fortune 500 executives about their adoption of Web3, and 251 decision-makers at small and medium-sized businesses in April. It also analysed web3 initiative activity by Fortune 100 companies between 2020 and 2025.