Cardano to Onboard At Least 50 banks and 10 Fortune 500 Firms by 2026

Cardano to Onboard At Least 50 banks and 10 Fortune 500 Firms by 2026

Cardano has announced that some of its shorter-term goals include onboarding about 50 banks to use its native cryptocurrency (ADA). The CEO of the Cardano Foundation, Frederik Gregaard, revealed that three Fortune 500 companies could begin to use the token within the next three years and that this number could increase to ten by 2026.

Gregaard commented on the matter at an online presentation, where he highlighted the importance of large organizations adopting the native digital asset.

If the Foundation succeeds with this plan, ADA holders will have the option of converting their tokens into an assortment of fiat currencies or other coins via the Cardano blockchain.

That said, the plan for the next few years includes bolstering the on-chain activity of users and the number of active wallets to diminish the need for people to contract third parties to interact with blockchain projects on their behalf.

Cardano plans to Onboard 10 Fortune 500 Companies by 2026

Additionally, the Cardano Foundation plans to onboard about three large Fortune 500 companies into its ecosystem. Gregaard noted that in addition to introducing the institutions to the multiple benefits of blockchain, the Foundation also wants them to adopt and use ADA.

The Foundation revealed that in the next five years, it expects the entire blockchain to be self-sustained and operated by the community. Coincidentally, the actualization of this projected ecosystem operational level falls within the same period with the arrival of the Voltaire era. At that point, the Cardano blockchain expects to host over one billion users. This massive user base will help Cardano service at least an entire nation.

Meanwhile, the Foundation noted that the number of Fortune 500 companies holding and using ADA should have increased to about ten by 2026.

To fulfill this plan, the Foundation has initiated a two-tier plan that involves improving the demand for the blockchain and the coin while providing an “excellent and decentralized” product.

 

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.