Last month, Liz blogged about the “crypto treasury / SPAC” play. She also shared that more than 70 public companies around the world currently hold over $67 billion worth of bitcoin. And earlier this month, John blogged about Figma’s “blockchain common stock.”

But what does corporate adoption of crypto look like generally? Deloitte asked about this in the second quarter 2025 North American CFO Signals survey, which polled 200 North American finance chiefs working at companies with at least $1 billion in revenues, and the results may surprise you.

37% of respondents said they have already had discussions with their boards about the use of cryptocurrencies in their organizations; 41% indicated they’d spoken to their CIOs about it; 34% said they’d discussed crypto with their banks or lenders; and only 2% said they have not had any conversations about cryptocurrency with key stakeholders.

Only 1% said they did not envision using cryptocurrency for business functions in the long term.

23% said their treasury departments will utilize crypto for either investments or payments within the next two years. That percentage is closer to 40% organizations with $10 billion in revenues and up.

15% believe their treasury departments will likely purchase non-stable cryptocurrencies as part of their investment strategies over the next 24 months. Respondents at organizations with revenues of $10 billion and up were even more likely to tick the box. 24% said their finance departments will likely invest in non-stable cryptocurrencies over the next two years.

15% say that, within two years, their organizations will likely accept stablecoin as payment. 24% for organizations with at least $10 billion in revenues.

52% indicated they anticipate using non-stable cryptocurrency for supply chain tracking. 48% said the same for stablecoin.

The article notes some potential advantages to these adoptions:

Non-stable cryptocurrencies can help diversify an organization’s investment portfolio.

Despite price fluctuations, non-stable crypto investments offer the possibility of substantial price appreciation—gains that can far outweigh returns on assets like Treasurys.

Stablecoins tied to the US dollar can—in some cases—serve as a hedge against changes in foreign exchange rates.

45% cited enhanced protection of customer privacy as the top reason to conduct transactions with stablecoin. Improved facilitation of cross-border transactions followed at 39%. Transactions conducted in crypto do not require intermediaries like banks, thus reducing costs and speeding up settlement.

Payment in crypto transactions can greatly reduce the need to reconcile payment information between buyer and seller that doesn’t match. Equally beneficial, crypto transactions are conducted and recorded quickly on the blockchain—a digital public ledger that serves as the foundation for cryptocurrency.

But CFOs also shared a few concerns:

When asked about their biggest worries related to investing in cryptocurrency, 43% of CFOs cited price volatility.

Complexities in accounting and controls (42%) were next on the list, followed by lack of industry regulation (40%).

– Meredith Ervine