The last few years have seen a steady rise in the number of companies that have been embracing cryptocurrency. More and more traditional companies are recognizing that a large section of their client base is getting interested in crypto related services. Certain companies, so far having followed a traditional route, are suddenly trying to follow a policy that would cater to their needs as well as entertain the larger group of traditional clientele.
Here are few traditional companies that are moving forward taking crypto related services within its purview.
- Checkout.com- Checkout.com is one of the more traditional online payment companies that have recently moved forward into crypto related services. Previously, they only dealt with USD but now changes are being made to meet the demands of its users. They announced in August that the company is now working on a crypto payout tool that will allow the employees to receive their payments via crypto.
- Fairfax County Retirement Systems- Pension fund from Virginia has recently said that it is looking to invest in crypto related services. They have recognized a scope for good yield from the crypto- related market. Katherine Molnar, Chief Investment Officer of the Fairfax County Retirement Systems has spoken to Financial Times recently and said that since some people have left the area of cryptocurrency since the downturn, they could still recognize good opportunities left for those who are still interested in it.
- Ontario Teachers’ Pension Board- Ontario Teachers’ Pension Board is another one of the pension boards that has shown interest in crypto related investment. They have made an investment in major crypto exchange FTX. This January the final announcement was made that the Ontario Teachers’ Pension Board was one of the participants in a 400m USD funding round.
- Commerzbank- Another remarkable step that was taken by a traditional company was Commerzbank. They have recently applied for a “crypto custody” license. If they are successful in securing this license, it would be a huge step forward for the traditional European banking system towards the ‘crypto space’. It will become the first bank to take this grand step forward among all other European financial institutions.
- Fidelity- Fidelity is an asset managing service that started offering crypto related services as early as 2018. They are not new to crypto space. However, Fidelity Digital Assets Services recently made headlines by announcing that they would also allow individual pension holders to invest in crypto if their employers would allow it.
These are another 5 traditional companies that are recognizing opportunities and profit from investing in crypto and are moving forward into it.