This month was the Paris Blockchain Week Summit. Contrary to appearances, it was not the celebrities invited to share their vision (Changpeng Zhao, Brad Garlinghouse, Alex Mashinsky, Silvio Micali, etc.) most courted public. Not (anymore) purely speculative, but in a sustainable way, by using proven tools to implement reasoned savings strategies.
Investment products now taken seriously by CFOs
A company, regardless of its size, needs to diversify its investments or cash resources. Crypto assets in this context represent an innovative solution, which is being considered more and more seriously. Microstrategy and Tesla led the way and explained why it was desirable and feasible. However, Bitcoin still represents too much risk for businesses, who don’t see it as a store of value. Today, companies prefer diversification. In its Blockchain & crypto 2022 survey, PWC indicates that 30% of them have assets in crypto currencies (Bictoin, Ether, Tezos, etc.), 24% have stable coins that are by definition not exposed to market fluctuations and 19% finally NFTs (non-fungible digital tokens). Finally, 8% ownership of security tokens (e.g. fractions of real estate).
A host of new financial services for businesses
This diversification shows a greater maturity of companies, towards which new services are focused: trading, custody, OTC, staking, offered by platforms that compete to support companies in a global way, and it works.
In Asia, Huobi has already distinguished itself by embedding a large number of companies on its exchange and by forging several partnerships with financial institutions that want to offer services around cryptocurrencies in Japan, Korea or Singapore. Crossed on the PBWS, Jeff Mei announces that he has a whopping 26 different products, and announces that he wants to develop in Turkey, Latin America and soon the UK.
Closer to home in Europe, Bitstamp already has 2,000 institutional customers. The platform also offers its white-label services through banking players, who in turn can provide their customers with cryptocurrency sales and purchase services. Jean-Baptiste Graftieaux, CEO Europe The Bitstamp also told us during the PBWS that it would probably announce a partnership with a benchmark player in France (on BtoBtoC) in a few months.
Little by little, the boundaries between bill and bank are blurring. In the future, companies will not only have access to cryptocurrencies, but will also be able to: save in a stablecoin and earn an interest much higher than traditional banks.
In France, Coinhouse already offers such a solution and promises a return between 3.5 and 5%. In addition, it offers a “directed management” of the investments entrusted by the companies, in order to optimize their returns.
Tomorrow business loan services, via DeFi services?
This is what the startup Atlendis will soon offer: loans without collateral for companies that will soon have revolving credit lines at their disposal. As is already the case for individuals using services such as Compound of Aave, companies will be able to use their money to collect interest, which money will be borrowed by other companies when they need it. This gives companies much more flexibility to finance their development and sometimes more peace of mind. A small revolution is coming for CEOs and CFOs, who will see their daily lives changed with these kinds of solutions!