When an eCommerce brand is onboarding a third-party supplier or manufacturer before launching a new product, smart contracts powered by blockchain technology and cryptocurrency can help them avert future supply chain disruption due to slow payments or authentication processes.
That’s just one way successful multinational firms are leveraging cryptocurrencies’ unique features as part of their growth strategies, according to “The Corporate Treasury Shift,” a PYMNTS and Circle collaboration based on a survey of 250 multinational financial institutions.
In fact, PYMNTS research shows that 58% of firms that operate in six or more markets use at least one cryptocurrency.
Powering Smart Contracts
For multinationals, cryptocurrency offers unique benefits for cross-border commerce. In the report, PYMNTS identifies three ways multinational firms are using cryptocurrency.
One is deploying blockchain technology and cryptocurrency to power those smart contracts that global businesses use to...
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