Although the crypto market is showing bearish tendencies and investors’ sentiment are down, the real interesting surprise might be the fact that crypto space has witnessed a number of partnerships formed throughout the year 2022.
Long story short, I say interesting given that one of these companies wasn’t keeping its not so long ago distaste of crypto a secret.
Nevertheless, here are 5 well-known Crypto firms that have forged partnerships with some of the biggest publicly listed companies around the world.
Coinbase Teams up with Mastercard to Revolutionize NFT Purchase experience
Believing its mission to increase economic freedom in the world, Coinbase has partnered with Mastercard to “classify NFTs as digital goods to allow a broader group of consumers to purchase NFTs”. The first crypto exchange to become a publicly-listed company plans to “unlock” a new way to pay using Mastercard cards very soon.
- Tesla strikes a deal with Block, and Blockstream to Mine Green Bitcoin
In collaboration with Block and Blockstream, Tesla is building an open-source, solar-powered Bitcoin mine. The mining facility will be powered by Tesla's 3.8-megawatt Solar PV array and its 12-megawatt-hour Megapack. This would demonstrate that Bitcoin mining can be done on a large scale using renewable energy.
- FIFA Partners with Alogrand to Launch Blockchain- Supported Wallet in Qatar 2022 World Cup
Thanks to this partnership, a blockchain-based wallet will be available to be used in World Cup Qatar 2022. FIFA has signed a sponsorship and technical collaboration agreement with the blockchain startup Algorand. According to the agreement, Algorand will become FIFA's official blockchain platform, offering a "blockchain-supported wallet solution." Alogrand will be also Regional Supporter in North America and Europe, and a FIFA Women’s World Cup Australia and New Zealand 2023™ Official Sponsor. In exchange, FIFA will provide sponsorship assets such as advertising, media exposure, and promotional opportunities, while Alogrand will assist FIFA in further developing its digital assets strategy.
- YallaMarket Ties up with CoinMENA to Process Crypto Payments
In collaboration with Bahrain-based crypto exchange CoinMENA, UAE grocery market delivery service YallaMarket will accept both USDT (Tether) and USDC stablecoins on its app.
- Binance Pours $500M in Musk’s Twitter Takeover
In a move toward establishing a more crypto friendly Twitter, Binance will contribute $500 million, according to a filing with the US Securities and Exchange Commission and the confirmation of CEO. This strongly indicates that the world's largest crypto exchange thinks that blockchain will play a significant part in the social media site's future.