Crypto keeps making its way into the public markets.
What’s happening:
- There has been a recent flurry of new partnerships and collaborations between large publicly traded companies and crypto projects
Who is making moves:
- RobinHood (NASDAQ: HOOD) announced a new partnership with MetaMask to integrate their wallet for digital assets into RobinHood’s trading platform
- Warner Music Group (NASDAQ: WMD) and Polygon announced the first winners from their joint venture accelerator aiming to bring together digital assets and music streaming
- Domain provider GoDaddy (NYSE:GDDY) announced a new partnership with Ethereum Naming Service to integrate custom Ethereum addresses to connect back to website domains
- Visa (NYSE: V) recently announced a new partnership with crypto payments company Transak to enable rapid conversions of digital assets into fiat currency
Why it matters:
- The longstanding critique of crypto and digital assets has been their lack of real world applications aside from pure price speculation, which is now starting to shift as more use cases find significant users and utility
Going deeper:
- The recent spot Bitcoin ETF approval from the SEC has also put Bitcoin into the reach of institutional capital in a new way, which has further deepened the ability for digital assets to find larger adoption and ownership
