Category

Crypto

CryptoTechnology
September 21, 2023

Corporates’ Tentative Steps Into the NFT Universe

Over half of NeuGroup members that have implemented NFTs manage some portion of the project in-house. Corporate uses of nonfungible tokens (NFTs) have had a roller-coaster journey over the last two years, with a boom of adoptions in 2021 that plateaued rapidly. But the tokens are far from dead—nearly a third of respondents to NeuGroup’s newest survey, Digital Assets: Current and Future Use Cases, said they’ve already issued NFTs. NFTs are unique digital assets similar to cryptocurrencies that can be bought and sold, built on…
Justin Jones
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CryptoTechnology
September 7, 2023

Crypto Leads the Way in Corporates’ Blockchain Use Cases

A NeuGroup survey reveals trends among corporates embracing blockchain tech—and reasons others are holding back. Members of NeuGroup for Digital Assets are among the groundbreakers for corporate use of digital currencies, blazing trails at companies including mega-cap corporates, by developing use cases for enterprise-wide projects involving a blockchain. NeuGroup’s newest survey, Digital Assets: Current and Future Use Cases, clearly shows rising interest in this area—as well as a growing urgency among treasuries to learn more. The survey revealed that nearly half of respondents have…
Justin Jones
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Accounting & DisclosureCryptoTax
July 27, 2023

Clearing the Crypto Fog: Experts Offer Clarity on Tax Questions

TaxBit joined NeuGroup’s digital assets peer group to make sense of crypto tax and accounting issues. A revised cryptocurrency bill proposed by US Sens. Cynthia Lummis and Kirsten Gillibrand last week would provide much-needed clarity on issues including definitions for stablecoins, decentralized finance and—crucially—brokers. The bill joins proposals from the IRS, FASB and the Financial Stability Board, and yet-to-be-implemented standards from the Bank for International Settlements. However, at last month’s meeting of NeuGroup for Digital Assets, members shared that, despite a great deal of proposed crypto regulation, a lack…
Justin Jones
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CryptoTechnologyThe NeuGroup Insights Interview
July 19, 2023

Airbnb Treasurer Brian Moore’s Healthy Skepticism About Crypto

A Strategic Finance Lab podcast on hedging, crypto risk, using revolving credit facilities and keeping duration short. Healthy skepticism and sharp critical thinking are governing principles for Airbnb treasurer Brian Moore. In this episode of NeuGroup’s Strategic Finance Lab Podcast, available on Apple or Spotify, he explains how a critical—but not negative—approach provided the framework for deciding whether Airbnb should start accepting cryptocurrency from guests who use its booking platform. The decision, for now, not to accept crypto like bitcoin…
Justin Jones
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BankingCrypto
July 13, 2023

Own Your Own Key: Cutting Out the Crypto Custody Middleman

Why one member set up cryptocurrency self-custody with Fireblocks instead of using a custodian. When El Salvador officially recognized bitcoin as legal tender in 2021, one NeuGroup member company that does business in the country had to act quickly to figure out how to pay or be paid via bitcoin. “If someone wants to pay in bitcoin, we couldn’t say no,” the member said at a recent meeting of NeuGroup for Digital Assets sponsored by Fireblocks. So the treasury team started a focus group to…
Justin Jones
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Cash & Working CapitalCryptoThe NeuGroup Insights Interview
June 28, 2023

Accept Crypto as Currency? What Airbnb Asked Before Answering

Airbnb treasurer Brian Moore explains, in a video clip, the travel company’s cost-benefit analysis of cryptocurrency. In January 2022, Airbnb CEO Brian Chesky received 4,000 responses from Twitter followers after asking for suggestions on what the travel company could launch that year. No. 1 on the list: crypto payments. Flash forward a year and a half, and Airbnb does not accept cryptocurrency from customers or use crypto to pay hosts. At least not yet. In a video clip from a forthcoming Strategic Finance Lab podcast interview,…
Justin Jones
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Cash & Working CapitalCrypto
May 11, 2023

Crypto for Corporates: Stablecoins and the Future of ‘DeFi’

A Strategic Finance Lab interview with Custodia Bank’s Caitlin Long and a video featuring Accenture’s Duane Block. Many finance professionals at multinational corporations remain skeptics about cryptocurrencies, including stablecoins. No wonder: Fraud charges tied to the collapse of FTX as well as two stablecoins losing their dollar pegs—Terra and USDC—have fueled well-founded fears about the world of digital assets in the last year. But that’s not the whole story. There are numerous, sound reasons treasury and finance leaders need to dig deeper and learn more…
Justin Jones
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Cash & Working CapitalCrypto
April 20, 2023

Speed, Stablecoins and the Future of Payments with Caitlin Long

A Wall Street veteran and crypto proponent sees stablecoins as an opportunity with real-world uses for corporates.Stablecoins—along with the entire world of cryptocurrency—have taken some lumps lately. That includes: faltering demand for two prominent players, BUSD and USDC; risk warnings about the digital coins from Fed vice Chair Michael Barr; and growing scrutiny and concern from the SEC, Congress and the Bank of England. Does all that mean finance teams at multinational corporations that need to keep up with developments in the payment space should turn their backs…
Justin Jones
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BankingCrypto
April 6, 2023

Navigating Crypto’s Liquidity Crisis: Diversification is Key

A tumultuous March has shaken confidence in crypto markets’ liquidity; major players like BNY Mellon are rebuilding trust.As the Fed addresses the ongoing crisis of confidence in the banking sector, the mostly unregulated cryptocurrency market is still reeling from the spillover effects of the collapse of Silicon Valley Bank and Signature Bank: both were active supporters of crypto market transactions. The closure of Signature and Silvergate Bank meant the elimination of Signet and Silvergate Exchange Network—two 24/7 digital payment networks used by most in…
Justin Jones
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Capital MarketsCryptoTreasury Management
December 15, 2022

Posts, Podcasts and Video: The Best NeuGroup Content of 2022

A curated collection of favorite NeuGroup Insights posts, videos and Strategic Finance Lab podcasts. The NeuGroup Insights newsletter this week flashes back on some of our best content of 2022. That includes popular and topical articles—some based on proprietary NeuGroup Peer Research survey data—as well as videos and—new this year—podcasts (the Strategic Finance Lab, available on Apple and Spotify). To read the full email, please click here. The selections reflect the range of immediate challenges finance organizations faced in 2022—including tight labor markets, rising…
Justin Jones
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