Ethereum has become a foundational technology not just for crypto-native projects, but for a wide array of established, non-crypto corporations. Over 50 major companies, spanning industries from luxury fashion and automotive to global finance and entertainment, are actively developing products and services on Ethereum and its Layer-2 (L2) networks. This activity focuses not on general market infrastructure like trading or custody, but on crypto-specific innovations such as Non-Fungible Tokens (NFTs), Real World Assets (RWAs), developer tooling, and scalable L2 solutions.
This exploration highlights how traditional enterprises are leveraging Ethereum's unique capabilities to build the next generation of digital products and services.
Understanding Corporate Crypto Engagement
To understand this shift, it's helpful to categorize how companies interact with blockchain technology:
- General Infrastructure: Services like exchanges, banking, or consulting that are now adapting to support cryptocurrencies but are not exclusive to the crypto sector.
- Crypto-specific Infrastructure: Projects that are only possible or useful in the context of blockchains, such as mining, staking, or building on-chain oracles.
- Crypto Use Cases and Applications: Consumer-facing applications that operate, either fully or partially, on decentralized networks, like decentralized exchanges (DEXs) or tokenized asset platforms.
The trend among major corporations is a decisive move into the second and third categories. They are building new products that are fundamentally enabled by blockchain technology, with a significant number choosing Ethereum and its L2s—such as Polygon, Arbitrum, and Base—as their foundation.
The Rise of Real World Assets (RWAs) on Ethereum
A dominant use case for financial institutions on Ethereum is the tokenization of Real World Assets (RWAs). This involves representing traditional financial instruments like bonds or funds as digital tokens on the blockchain. Among the traditional financial institutions building on Ethereum, a majority are focused on RWA issuance.
Ethereum is the undisputed leader for this activity, hosting nearly ten times the total value of RWAs compared to the next most popular blockchain. This includes everything from money market funds, like the Franklin OnChain U.S. Government Money Fund, to government bonds issued by entities like the European Investment Bank.
A prominent example is BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL). As one of the largest tokenized funds globally, BUIDL offers investors exposure to U.S. dollar yields with the benefits of instantaneous settlement, transparency, and interoperability between traditional and decentralized finance markets. BlackRock's head of digital assets described it as taking "traditional finance investment exposure and putting it in a crypto native wrapper." Initially launched on Ethereum, the fund has since expanded to several other protocols, including multiple Ethereum L2s.
The total value of RWAs issued on Ethereum has tripled in the past year, with over 160 distinct assets held across tens of thousands of unique wallets. This growth is propelled by a search for efficiency, transparency, and new market opportunities. 👉 Explore more strategies for digital asset integration
Stablecoins: A Gateway for Traditional Finance
Closely related to RWAs is the development of stablecoins by traditional payment and trading firms. PayPal launched its U.S. dollar-pegged stablecoin, PYUSD, on Ethereum in 2023, later expanding its issuance to other networks. Similarly, trading platform Robinhood partnered with several crypto institutions to launch its own dollar-pegged stablecoin, USDG, on Ethereum.
The total supply of stablecoins on Ethereum has grown by approximately 70% year-over-year, and the network commands over half of the entire stablecoin market. These digital assets, predominantly backed by high-quality liquid assets, are seen as critical infrastructure for the future of global payments. Industry forecasts predict the total stablecoin market could exceed $400 billion in 2025, driven by increasing institutional adoption and regulatory clarity.
A significant catalyst was Stripe's acquisition of a stablecoin payment platform, with its CEO calling stablecoins "room-temperature superconductors for financial services" that will improve the speed, coverage, and cost of financial operations worldwide.
Investing in Scalable Blockchain Infrastructure
While Ethereum is the preferred gateway for institutional blockchain adoption, its base layer has limitations in transaction speed and cost for mass-scale applications. Instead of compromising on its security and decentralization, Ethereum's strategy is to become a settlement layer for Layer-2 rollups—secondary networks that process transactions off-chain before posting compressed data back to Ethereum.
Major corporations are not just using this infrastructure; they are actively building it. Deutsche Bank, Germany's largest bank, is developing its own customizable rollup on Ethereum in partnership with the team behind zkSync. This initiative, part of a broader project with the Monetary Authority of Singapore, aims to create a scalable, auditable, and compliant blockchain infrastructure that can interoperate with existing regulated financial platforms.
The appeal extends beyond finance. Japanese conglomerate Sony has launched its own general-purpose rollup on Ethereum, called Soneium, using the OP Stack. The goal is to support a diverse ecosystem of applications across its core businesses in gaming, finance, and entertainment. While the rollout raised questions about corporate control on decentralized networks, it underscores the profound commitment from global giants to experiment and find value in Ethereum's ecosystem.
Gaming and NFTs on Ethereum Layer-2s
While NFTs were initially popularized by luxury brands like Louis Vuitton and Porsche, the most active corporate NFT issuers in 2025 are those integrating digital assets into broader gaming experiences on Ethereum L2s.
Video game pioneer Atari deployed classic arcade games like "Asteroids" and "Breakout" on Coinbase's L2, Base. Players could earn rewards, mint exclusive NFTs, and redeem physical merchandise, demonstrating a blended physical-digital experience. Similarly, Automobili Lamborghini partnered with Animoca Brands to launch "FastForWorld," a digital collectible platform where users can buy, sell, and drive virtual Lamborghinis across multiple games. These interoperable in-game assets are also minted on Base.
South Korea's Lotte Group provides another compelling case. It is deepening its partnership with the teams behind Arbitrum to build out its "Caliverse" metaverse gaming platform. This platform allows users to shop, attend virtual concerts, and play games. The company selected Arbitrum for its industry-leading transaction speed, which is critical for delivering a seamless user experience in virtual worlds.
These examples highlight a key trend: the scalability offered by Ethereum L2s is unlocking complex, transaction-heavy use cases like gaming for major brands, moving beyond the speculative NFT art market of years past.
Frequently Asked Questions
What are Real World Assets (RWAs) in crypto?
RWAs are traditional financial assets like bonds, real estate, or funds that are represented as digital tokens on a blockchain. Tokenizing RWAs on a network like Ethereum can make them easier to trade, fractionate, and settle, bringing new efficiency and transparency to old markets.
Why are big companies building on Ethereum instead of other blockchains?
Companies often choose Ethereum for its high level of security, decentralization, and extensive developer ecosystem. It has the longest track record and largest total value locked (TVL) in decentralized finance, making it a relatively lower-risk and more interoperable environment for large-scale experiments.
What is the difference between Ethereum and an Ethereum Layer-2?
Ethereum Mainnet is the base layer settlement platform, prized for its security. Layer-2 networks like Arbitrum, Polygon, and Base are built on top of Ethereum. They process transactions cheaply and quickly off-chain before bundling the data and posting it back to Mainnet, inheriting its security while enabling scale.
Are corporate NFTs still popular?
While the speculative NFT art market has cooled, NFTs have found a more sustainable use case as functional in-game assets and digital collectibles within larger applications. Major brands are now issuing NFTs primarily as components of gaming and entertainment experiences on scalable L2s.
How are stablecoins different from tokenized RWAs?
Stablecoins are a specific type of tokenized asset designed to maintain a stable value, typically pegged to a fiat currency like the U.S. dollar. RWAs represent a broader category that includes any off-chain asset, such as a treasury bond or a real estate fund, which can have a fluctuating value based on market forces.
What does the future hold for corporations on Ethereum?
The trend is moving towards more sophisticated and utility-driven applications. Expect increased activity in tokenized funds and bonds, more corporate-backed stablecoins, and complex virtual world experiences built on scalable L2s, all aimed at creating tangible value rather than mere speculation. 👉 Get advanced methods for blockchain development