We are halfway through the year 2019, and globally recognized companies are becoming comfortable with the concept of Bitcoin or at least pursuing a cryptocurrency project of their own.
These efforts, no doubt, has contributed to the crypto market resurgence in 2019, and this article recaps some of the most prominent bitcoin and crypto adoption cases so far in 2019.
JP Morgan Coin
In mid-February, JP Morgan Chase, the sixth largest bank in the world, announced that it was going to conduct a trial for its dollar-backed cryptocurrency dubbed JPM Coin.
However, coming off the back of derogatory comments about Bitcoin by CEO Jamie Dimon (Jamie called Bitcoin a scam) meant that the historic move did not generate a lot of funfair among cryptocurrency enthusiasts.
From the positive angle though, it marked one of the biggest news around cryptocurrency adoption after a lengthy bear market in 2018.
Avnet Now Accepts Bitcoin
In March, Avnet, a leading technology company ranked in Fortune 500 disclosed that it would, through a partnership with BitPay, allow clients to pay in either Bitcoin (BTC) or Bitcoin Cash (BCH).
Following the development, Avnet said it has “already closed several multi-million-dollar cryptocurrency transactions within the first month of accepting bitcoin,” a statement that confirms its client base gladly received the news.
Travel With Bitcoin
Being able to use Bitcoin to pay for mainstream services, no doubt represents one of the currency’s most recurring use case.
In that regard, it came with as little surprise when the leading U.K travel management company, Corporate Traveller revealed clients could pay for trips using either Bitcoin (BTC) or Bitcoin Cash (BCH).
As you rightly guessed, that move was made possible by another BitPay partnership and opened more travel with Bitcoin opportunities.
Gemini and Flexa Brings Crypto to Retail Stores
On May 13, the Winklevoss brothers exchange, Gemini partnered with Flexa to offer Amazon-owned Whole Foods Market, Crate and Barrel, Nordstrom and other major retailers, the chance to accept cryptocurrencies.
Shoppers could complete payments using a scanner system embedded on Flexa’s cryptocurrency app known as Spedn and pay using either Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and Gemini Dollar (GUSD).
AT&T Becomes First Major U.S Mobile Carrier to Accept Bitcoin
Once again, the move was possible through a partnership with crypto payment’s processor, BitPay and marked the second significant adoption move in May.
Microsoft Adds Bitcoin As a Currency Option in Excel
Moving away from leading companies now accepting Bitcoin, software company, Microsoft made the headlines when it introduced the cryptocurrency amongst other currency options available on its spreadsheet package, Excel.
The move finally brought Bitcoin into a category that it now belongs. Given Microsoft’s influence on the software space, the move could lure others to recognize Bitcoin as a currency, thus, completing the round of mainstream penetration.
Although first announced in December, details about Facebook’s crypto has become more evident since the start of the year.
The social media company plans to launch a stablecoin that will allow users on its messaging platforms to transfer money to friends on their list.
With earlier reports even suggesting that the cryptocurrency will go live later this month, we may as well witness the birth of a successful cryptocurrency, since Facebook already boasts an extensive user base unlike most projects in the industry.
First European Soccer Club to Accept Bitcoin
The most recent case of Bitcoin adoption was SL Benfica’s announcement last week that the fans can now use the cryptocurrency to pay for match tickets as well as other merchandise available on their online store.
The development, which is also courtesy of a BitPay partnership, arguably makes the Portuguese soccer club the first European soccer club to accept Bitcoin and should show the way for others to follow.
As the saying goes, however, the best is yet to come since we just arrived at the mid-year point.