Cryptocurrencies are attracting the interest of companies and investors from all segments. Especially after the recent ETF applications, this interest has increased. With the expected ETF approvals next year, demand is expected to rise even further and large companies are already taking action. The latest news is about Saudi Aramco.
Saudi Aramco and Crypto
The world’s second-largest company, Aramco, and SBI Holdings have signed a new agreement. The partnership covers many issues including the construction of semiconductor factories in both Japan and Saudi Arabia. The agreement, which also covers digital assets, will expand cooperation in the identified three areas. These three areas are;
- Cooperation and joint investment in the digital asset area
- Discovery and support of Japanese ventures in the digital asset area that want to expand their business in Saudi Arabia
- Semiconductor projects including the establishment of factories in both countries
The SBI Group is working on ventures in the Middle East, including the establishment of a joint investment fund with local partners.
Thanks to this agreement, the world’s second-largest company, SBI, will be able to invest in digital asset portfolios. Moreover, it will receive support from Asia’s major crypto player for early investment opportunities.
The Future of Cryptocurrencies
This field is not just about token prices and the Web3 world is still in its early stages. Cryptocurrency, which is synonymous with speculation and easy money-making for most investors, has actually built a new digital world over the years. Thousands of different products have been launched in dozens, even hundreds of areas, from decentralized finance to the tokenization of real-world assets.
All these efforts are steps taken for the transformation of the current internet age, Web2, into Web3. The giants of Web3 in the future will largely be companies that are little known today or not yet born. Many trillion-dollar companies, including Aramco, are looking for early opportunities to prepare for this future.
We are in a different version of the days when the internet began to become widespread. We do not yet have things like ordering from the internet, what we can call social media on the Web3 side. However, the potential for the transformation to occur earlier than expected in this rapidly developing field is not to be underestimated.
We will see the future by living today, but companies and countries that do not prepare for tomorrow will face the disappointments of the past again.
