Top companies bank on cryptocurrency for internal use
Several top corporates and banks are experimenting with virtual currency as a more transparent treasury management tool for optimal utilisation of working capital, settlement among subsidiaries and paying vendors and suppliers while being cautious about regulatory compliance.
Thus, the Top companies bank on cryptocurrency for internal use and experimenting daily the new and great applications of the blockchain technology and how it’s affecting their company’s workflow.
“The cryptocurrency would only be used by the companies and banks internally,” said one of the persons. “It will mainly be effective as a working capital management tool, where rather than actually transferring money, cryptocurrency will be transferred and accounts shall be reconciled at a later date.” The companies and banks involved in the pilot projects have not yet set a definite timeline for scaling up usage.
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