60% of Fortune 500 firms working on blockchain initiatives, SMB adoption rising: Coinbase

Roughly six of 10 Fortune 500 executives said their companies are currently “working on blockchain initiatives,” according to Coinbase’s latest “State of Crypto” quarterly report, released Tuesday. 

The report, citing a January survey conducted by EY-Parthenon, found that nearly one in five Fortune 500 executives now consider onchain initiatives a key part of their long-term strategy, up 47% from the previous year. Additionally, more than four in five institutional investors plan to increase their crypto exposure this year, Coinbase said.

Institutional adoption is particularly growing among small and medium-sized businesses (SMBs), which are increasingly testing crypto payment tools and stablecoins, the report said.

More than 80% of respondent SMBs said that crypto “can help address” a particular financial "pain point," such as managing invoices and accounts receivable. Of the firms not yet using crypto, 46% plan to integrate blockchain technology into some aspect of their operations within the next three years.

The report comes as pro-crypto President Donald Trump sets a new tone for regulatory engagement, with agencies reportedly encouraged to work more closely with the industry. Nearly three-quarters of respondents said regulatory clarity would be the “next catalyst for growth.”

"It’s clear greater regulatory certainty is still required for the potential of crypto to be fully realized. That’s why passing market structure and stablecoin legislation is so critical to the future of crypto innovation in America," Coinbase wrote, referring to draft legislation like the GENIUS stablecoin bill and CLARITY market structure bills under consideration. 

Figures from the report include the aforementioned EY survey conducted earlier this year, as well as additional data collected by research firms NRG and The Block Pro Research, among others, according to the report.