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Enterprises adopting this limited use of crypto typically rely on third-party vendors. It may require the fewest adjustments across the spectrum of corporate functions and may serve immediate goals, such as reaching a new clientele and growing the volume of each sales transaction. In other words, the company is taking a вЂњhands-offвЂќ approach that keeps crypto off the books.Д®nabling crypto payments, such as bitcoin, without bringing it onto the companyвЂ™s balance sheet may be the easiest and fastest entry point into the use of digital assets. One avenue to facilitate payments is to simply convert in and out of crypto to fiat currency to receive or make payments without actually touching it. Some companies use crypto just to facilitate payments. There are, of course, clear volatility risks that need to be thoughtfully considered.

Crypto is an investable asset, and some, such as bitcoin, have performed exceedingly well over the past five years.

Crypto may serve as an effective alternative or balancing asset to cash, which may depreciate over time due to inflation.

Managing the risks and opportunities of engaging in digital investments.

Helping strengthen control over the capital of the enterprise.

Enabling simple, real-time, and secure money transfers.

Crypto provides a new avenue for enhancing a host of more traditional Treasury activities, such as:.

Consequently, your business may need to be positioned to receive and disburse crypto to assure smooth exchanges with key stakeholders.

More companies are finding that important clients and vendors want to engage by using crypto.

For example, programmable money can enable real-time and accurate revenue-sharing while enhancing transparency to facilitate back-office reconciliation.

Crypto furnishes certain options that are simply not available with fiat currency.

Crypto could enable access to new capital and liquidity pools through traditional investments that have been tokenized, as well as to new asset classes.

It also may help position the company in this important emerging space for a future that could include central bank digital currencies.

Introducing crypto now may help spur internal awareness in your company about this new technology.

One recent study found that up to 40% of customers who pay with crypto are new customers of the company, and their purchase amounts are twice those of credit card users. Users often represent a more cutting-edge clientele that values transparency in their transactions.

Crypto may provide access to new demographic groups.

To spark your companyвЂ™s thinking about crypto, here are some of the rationales behind why some companies are currently using crypto: (For considerations related to investing in crypto currencies and digital assets, please consult DeloitteвЂ™s complementary report, Corporates investing in crypto: Considerations regarding allocations to digital assets.) So, if your company plans to participate in crypto, itвЂ™s important to think ahead, prepare, and engage in a thoughtful manner.

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This paper endeavors to provide you and your company with an overview of the kinds of questions and insights enterprises should consider as they determine whether and how to use crypto.

ThatвЂ™s why companies venturing to use crypto in their businesses should have two things: a clear understanding of why they are undertaking that action and a list of the many questions they should consider. As with any frontier, there are both unknown dangers and strong incentives. The use of crypto for conducting business presents a host of opportunities and challenges. An increasing number of companies worldwide are using bitcoin and other digital assets for a host of investment, operational, and transactional purposes. More than 2,300 US businesses accept bitcoin, according to one estimateВ from late 2020, and that doesnвЂ™t include bitcoin ATMs.

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