7 Global Firms Looking To Launch Their Own Cryptocurrency
Given the huge appeal that crypto coins have today, can global enterprises be far behind when it comes to launching their cryptocurrencies? In the past decade, the emergence of the Bitcoin followed by other such crypto assets had led to smoother and faster financial transactions, introducing the much sought-after transparency in the financial world. Here are some of the top global enterprises that are keen to launch their own crypto coins:
- Amazon: This retail giant is supposed to be preparing for a digital currency, a rumor that has been fueled by events like its patent activities and registrations in many crypto-related domains. The platform has been using Amazon Coin that is something like a digital currency. This is not a crypto coin per se; rather, it is a gift card which is being tested for use as blockchain solution in the near future.
- Air Asia: This low-budget airline brand has also shown a willingness to launch a crypto coin called the Big Coin. Its founder and CEO has shared the company’s views in this regard explaining that using this the firm is part of the company’s keenness to try out new avenues like ICOs. He further mentioned that the company plans of forwarding loyalty program points from its Big Points program to a blockchain. A reason behind coming out with a crypto coin is because a majority of South East Asians work in foreign lands and need to transfer huge amount of money across borders.
- Facebook: This social media platform had been toying with the idea of launching its own crypto asset that is expected to generate almost $19 billion as additional revenues. The coin Libra is going to be funded by the Libra Association jointly with Facebook and it is expected to be useful to billions of people, especially those who might not have an easy access to banks. Facebook however will not control this currency; it will simply be a stakeholder.
- JP Morgan Chase: This is a multinational firm specializing in financial and investment banking services. This leading financial institution has shown an active interest in cryptocurrencies and has been applying final touches on its new digital currency. According to reports, some engineers have come up with the JPMCoin because the company has been a firm believer in the blockchain technology potential and in favor of crypto coins as long as these are regulated. This coin will be for transactions between this banks’ wholesale payment customers.
- Mitsubishi UFJ Financial Group (MUFG): This is Japan’s biggest bank that wants to launch a crypto coin through the Bank of Tokyo-Mitsubishi UFJ. Customers have to download this bank’s app and their account balance will be converted into the digital currency automatically.
- Google: It was only a matter of time before Google would jump onto the crypto bandwagon. The company planned to approach Buterin, Ethereum founder, to assist it in this project but when he declined, the tech giant reached out to IOHK CEO and Director of Engineering. It has shown interest in a digital coin Cardano which is scalable and robust.
- Rakuten: This has expressed its interest in joining the cryptocurrency race. It is popularly called the Japanese Amazon and it came out with Rakuten Coin in 2018. The company is planning a borderless currency for online shopping, banking, media, professional sports, marketing, data analysis, and credit cards and payments.