Galaxy Report: ETH Dominates Enterprise Blockchain Adoption with Use Cases like NFT and RWA Tokenization
ChainCatcher news, according to Bitcoin.com, based on a report by Galaxy Digital's Vice President of Research Christine Kim, over 50 traditional companies, including financial institutions like Deutsche Bank and Paypal, as well as brands like Louis Vuitton and Adidas, are developing cryptocurrency-specific applications on Ethereum and its L2 networks, focusing on non-speculative use cases such as RWA tokenization, NFTs, Web3 gaming, and scalable infrastructure.The report states that Ethereum is leading in RWA tokenization, with the value of managed assets nearly 10 times that of Stellar. Among 20 financial institutions building crypto infrastructure, 13 are issuing RWA, including BlackRock's BUIDL. Stablecoins are also thriving on Ethereum, with Paypal's PYUSD and Robinhood's USDG driving a 70% supply surge in 2024, while Ethereum holds over 50% of the $400 billion stablecoin market.Investment in scalable infrastructure emphasizes enterprise adoption. Deutsche Bank is developing a compliant financial solution on Ethereum L2 with ZKSync, while Sony's L2 project Soneium targets gaming and entertainment. These projects highlight Ethereum's role as a customizable foundation for enterprise-grade blockchain.Additionally, the centralized roadmap for Ethereum L2 balances scalability and security, attracting institutions seeking effective on-chain solutions. Regulatory tailwinds, including the SEC's focus on tokenization and collaborations like Stripe's $1 billion acquisition of stablecoin platform Bridge, indicate increasing mainstream adoption.Galaxy's report concludes that Ethereum remains the preferred chain for finance-focused crypto services, with RWA and stablecoins expected to expand by 2025. Kim noted, "As the most decentralized, widely covered, and longest-running general-purpose blockchain, Ethereum serves as a gateway for many institutions to incubate and launch finance-focused crypto services and products."