by Marvin Dumont
They may not admit it, but some Fortune 500 companies are accepting cryptos for payment.
Regulatory uncertainty is slowing down adoption. But big companies are taking advantage of blockchain-powered money for more efficient transactions.
Just don’t look for official press releases. These corporate titans are experimenting with frictionless crypto payments so they can measure and estimate its impact if adopted on a mass scale.
Participants of limited beta testing include Starbucks, Nordstrom, and Amazon-owned Whole Foods. Big-box retailers are accepting cryptos via the newly-launched Spedn app, according to Forbes.
Others that are accepting programmable monies (via beta testing) include:
- Bed Bath & Beyond
- Barnes & Noble
- Office Depot
- Baskin Robbins
- Caribou Coffee
- Crate & Barrel
- Jamba Juice
- Regal Cinemas
The next time the media portray cryptos as risky and potentially unreliable, just follow the money. Some of the world’s largest retailers, who have the smartest operators, are interested.
Adoption from large businesses will put pressure on regulators to get their act together. Fortune 500 companies have influential lobbyists, and that could move Congress to do its job.
Meanwhile, the industry’s market cap reached $260 billion early Thursday. That’s up a whopping 50% from a month ago, showing renewed confidence and optimism in the emerging asset class.
(The market cap has since dropped to $244 billion by end of day Thursday EST.)
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