Fintechs like Robinhood and Stripe are building blockchains as Wall Street explores digital assets, but execution bottlenecks still stand in the way of institutional adoption.
The next wave of institutional adoption of cryptocurrencies is emerging as established fintech firms begin building their own blockchains.
Financial services app Robinhood recently announced that it is building its own layer-2 blockchain to support tokenized stocks and real-world assets, while Stripe followed with plans for Tempo, a payments-focused chain built with Paradigm.
“That’s going to be the beginning of many others to come,” Annabelle Huang, co-founder of Altius Labs, told Cointelegraph in an interview. “The fintechs in Asia, Latin America and other emerging markets that have looked into this for many years now are also getting ready to make more moves.”
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