SIGNS THAT SHOW CRYPTO MASS ADOPTION IS UNDERWAY.

he march toward blockchain and cryptocurrency mass adoption has made significant strides in 2021 as the growth of decentralized finance (DeFi) and nonfungible tokens (NFT) thrust crypto into the mainstream media spotlight on a daily basis.

From the rise of meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB) to the breakout popularity of the play-to-earn gaming mode and popular protocols like axie infinity 2021 has been about showing the world the income-generating opportunities that exist within the cryptocurrency ecosystem. And it’s not just engagement from the average Ken and Kate providing hints that the mass adoption of cryptocurrencies is upon us as multiple big-time developments in finance and popular culture show that blockchain technology is slowly becoming a mainstay in the global society.

A sign indicating that mainstream adoption of cryptocurrencies is underway has been the integration of cryptocurrency-related projects into the mainstream financial realms, with the biggest example being the release of the ProShares Bitcoin Strategy exchange-traded fund (ETF) (BITO), the first Bitcoin-related ETF to be allowed on the U.S. market.

The launch of BITO was quickly followed by the launch of the VanEck Bitcoin Strategy ETF (XBTF), indicating that the United States Securities and Exchange Commission is comfortable approving Bitcoin futures ETFs at this juncture but is not yet prepared to allow spot Bitcoin ETFs, a development that may not happen until 2022 or later.

2021 has also seen a significant integration of blockchain technology with the wider financial sector as major payment processing networks such as Visa and Mastercard have inked numerous deals across the cryptocurrency industry to enable crypto holders to use their tokens for payment.2021 has also seen a significant integration of blockchain technology with the wider financial sector as major payment processing networks such as Visa and Mastercard have inked numerous deals across the cryptocurrency industry to enable crypto holders to use their tokens for payment.

Multiple influential crypto-focused companies including the aforementioned Crypto.com as well as BlockFi and Coinbase utilize the Visa network to power their debit and credit card system, while Mastercard has partnered with the digital asset platform Bakkt, also laying the groundwork to eventually support central bank digital currencies (CBDC).The fact that multiple central banks around the world have announced that they are investigating or developing CBDCs of their own is a testament to the inevitable integration and mass adoption of blockchain technology in the wider global financial ecosystem.

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