Cardano Aims to Onboard 50 Banks and Ten Fortune 500 Companies Over the Next 5 Years

Cardano’s shorter-term goals include onboarding at least 50 banks to use its native cryptocurrency – ADA, said the Foundation’s CEO, Frederik Gregaard. While laying down the targets for the next several years, the executive further asserted that three Fortune 500 companies could use the token within three years, and the number might rise to ten by 2026.

50 Banks and 3 Fortune 500 Companies

In a recent online presentation, Gregaard outlined the short- and long-term goals for the Foundation behind one of the most popular blockchain projects – Cardano. He highlighted the significance of large organizations adopting the native digital asset.

As such, one of the most crucial parts the company will focus on in the next year and a half will be onboarding 50 banks with the “utility token ADA, which allows you to operate on our blockchain.”

Should the Foundation completes this goal, it will enable ADA holders to convert the tokens into various fiat currencies or other coins utilizing the Cardano blockchain.

The goals for the next few years – until 2024 – include increasing the on-chain activity of users and the number of operating wallets to reduce the need for people to employ the services of third parties to interact with blockchain projects.

Furthermore, the Cardano Foundation plans to onboard at least three large Fortune 500 organizations to its ecosystem. Apart from intending to introduce them to the benefits of blockchain, Gregaard said the Foundation wants them to hold and use ADA.

2026: 10 Fortune 500 Companies

Within the next five years, the Foundation plans to have the entire blockchain self-sustained and run by the community, which will coincide with the arrival of the Voltaire era. At that point, the Cardano DLT should have adopted at least one billion users. This will help Cardano to service at least one entire nation.

Additionally, the number of Fortune 500 companies holding and using the ADA token should have grown to at least ten by 2026.

To achieve its ambitious goals, the Foundation has put into action a two-tier plan that includes enhancing the demand for the blockchain and the coin while providing an “excellent and decentralized” product.