Cardano plans to onboard 50 banks and 10 fortune 500 companies in the next five years as it now has one billion users employing the blockchain so let’s read more about it in our latest Cardano ADA news.
Cardano plans to onboard 50 banks to use its native crypto coin ADA according to the CEO of the foundation Frederik Gregaard. While laying down the targets for the next several years, the CEO asserted that three Fortune 500 companies will use the token within three years and the number could increase to 10 by 2026. In a recent presentation, Gregaard outlined short-term and long-term goals for the Foundation behind Cardano. He outlined the significance of the bigger organizations adopting the native digital asset and as such, one of the best elements of the company is that it will focus on the next year and a half to onboard 50 banks with the Utility token ADA that will allow them to operate on the blockchain.
If the Foundation completes this goal, it will enable the holders of ADA to convert the tokens into various fiat currencies or other coins that utilize the Cardano blockchain. The goals for the next few years include increasing the on-chain activity of users and the number of operating wallets to reduce the need for people to employ the services of third parties to interact with the blockchain. The Cardano Foundation plans to onboard three large Fortune 500 organizations to its ecosystem and apart from intending to introduce them to the benefits of the blockchain, Gregaard said that the foundation aims to make them hold and use ADA.
In the next five years, the Foundation plans to have the entire blockchain self-sustained and run by the community which will coincide with the Voltaire era arrival. At that point, the Cardano DLT will have adopted one billion users which will help Cardano service at least one entire nation. The number of Fortune 500 companies that hold ADA token should have grown even more by 2026. To achieve the goals, the Foundation put into action a two-tier plan including the enhancing demand for blockchain and the coin while providing decentralized products.
As recently reported, Grayscale bought Cardano as the leading digital asset management fund, revealing that it even rebalanced its portfolio in a way where ADA becomes the third-biggest holding in the fund.
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