10 huge institutions getting into crypto

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Despite the bearish sentiment clouding over the crypto sector right now, there are 10 huge global companies that have recently entered the space.

It seems there is so much bearish news over the last few weeks that the crypto sector could well have hit bottom. Some might say that this is a good time to buy, and with giant real-world companies having just dipped their toes into crypto, they might just be right.

YouTube influencer The Crypto Lark (Lark Davis) put together a Tweet thread that acknowledges 10 of the hugest companies that have recently got into crypto.

When giant companies are concerned, you don’t get much bigger than BlackRock. The asset manager behemoth with more than $10 trillion AUM launched a spot bitcoin fund, and has partnered with Coinbase in order to offer its own $BTC trading service.

Payment card giant Mastercard has partnered with immersve, a crypto payments protocol which enables Australian and New Zealand clients to use crypto for payments anywhere in the Mastercard Network. Mastercard has also just partnered with top crypto exchange Bybit to offer the same thing.

Mastercard’s huge competitor Visa is not to be left out. It partnered with Wirex to help launch a crypto-linked debit card, which will soon be available in more than 40 countries.

Polygon is the biggest of the layer 2 blockchains, and this go-getting team has partnered up with no less than 3 big stock market companies. Meta has elected Polygon as the blockchain on which to host its new Instagram NFT feature. 

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Nike is also using Polygon for its Swoosh, virtual apparel NFT platform, and Starbucks chose Polygon for its NFT rewards program named Odyssey

Amazon Web Services (AWS) partnered with the Avalanche blockchain (Ava Labs) about a month ago, in order to allow Avalanche to take advantage of the Amazon cloud infrastructure that would allow AWS customers to build decentralised applications on the Avalanche network.

Microsoft will be doing a similar thing, having partnered up with liquid staking protocol Ankr, while Chinese giant tech company TencentGlobal has joined forces with the MultiversX (Elrond) blockchain, to build a web3 and metaverse product suite.

Finally, Meta (Facebook) will combine with Spanish telecoms colossus Telefonica to work with Gamiumcorp and develop a Metaverse Activation Programme.  

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Source: ryptodaily.co.uk

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