Of the top 25 largest stocks within the S&P 500, eleven of these companies make use of blockchain or crypto in some form or another, with 22 companies within the S&P 500 using blockchain and crypto in total.
Biggest Names Out Already Into Crypto
A large number of so-called Big Tech firms offer various enterprise blockchain services. Microsoft, which is second place in terms of market cap, leverages its Azure Marketplace in order to offer blockchain-as-a-service. Amazon, which is third on the list, offers a similar service, but doing so through AWS. Alongside this, Amazon is making plans to explore crypto payments, as well.
Facebook, being number four, has its namesake Diem Association (Formerly the Libra association) as well as its namesake stablecoins. Google, standing at number 5, also boasts the Google Cloud division’s public blockchain nodes.
Large Scale Investments From Big Tech And Tesla
Tesla, who stands at number six, had already invested a whopping $1.5 billion in Bitcoin, causing a bull run all on its own through this action within the BTC markets. Furthermore. The company is considering adding crypto payment options for its vehicles.
An array of other tech companies have also taken part in crypto. Oracle, AT&T, and Cisco (Numbers 59, 28, and 29, respectively) have all started offering enterprise blockchain services. Alongside this, IBM, number 66, as well as Intel, ranked 20th, have become involved with the Hyperledger blockchain. Salesforce, ranked 26th, opted to develop its own blockchain on Hyperledger Sawtooth.
Finance Space Getting In On Crypto Too
The world’s top payment companies have long since been involved with cryptocurrencies. PayPal, ranked 14th, started crypto trading support back in October, with plans to expand the offering already in place. Visa, standing at 12th place, has a number of partner companies already to support crypto payments cards. Lastly, Mastercard, which is 17th, has recently announced plans to support crypto conversions, as well.
Even various financial institutions and banks are going for crypto, after they’ve probably seen that not joining it would be catastrophic. JPMorgan, ranked 10th by market cap, even went as far as to issue its own stablecoin, creatively named the JPMCoin. Wells Fargo, standing at number 53, joined up with the offering of its own stablecoin.
BNY Mellon, Blackrock, and Goldman Sachs (Numbers 198, 71, and 69, respectively) have all announced on planning to enter the crypto space. Blackrock is gearing towards a crypto fund, while the other two are planning on dedicated crypto custody services.
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