Blockchain stocks allow investors to profit from various industries that use blockchain data storage technology. Because blockchain technology offers additional security due to its anonymity, some of the biggest industries adopting it on a large scale are cryptocurrency and online banking.
Many stocks in these industries are expected to find great success in adopting blockchain tech, which is growing in popularity this year. These three stocks have shown dedication and commitment to riding this wave, and investors should consider their prospects.
Let’s examine three stocks utilizing blockchain technology in their platforms and solutions, which are expected to grow immensely this year.
Nu Holdings (NU)
Latin America’s adoption of crypto is part of a highly anticipated future and a significant wager for cryptocurrency believers. Nu Holdings (NYSE:NU) is perfectly positioned to take full advantage of this transition.
Since Nu Holdings is a one-hundred percent online banking solution, it is a premier user of blockchain technology. Last year, NU partnered with enterprise platform Fireblocks to improve security and asset operations. The digital infrastructure offered by Fireblocks significantly boosts Nu Holding’s handle over the Brazilian crypto market.
NU continues to expand its customer base rapidly with blockchain implementations like this. Last year, the company added nearly 20 million customers, reaching 93.9 million and almost doubling the amount from two years ago.
Nu Holding’s operating costs are significantly lower since it’s entirely online. And, it can avoid other issues brick-and-mortar banks may face. Income and customer engagement rates continue to increase. Therefore, investors should buy NU to profit from Latin America’s blockchain and crypto expansion.
Mastercard (MA)
Mastercard (NYSE:MA) is one of the most extensive payment-processing stocks, seeing tremendous growth over recent years. However, Mastercard has recently made its mark in the blockchain world through partnerships with significant blockchain providers.
Mastercard partnered with blockchain companies such as Polygon, Solana, Ava Labs, and Aptos Labs to release Cryptocredentials. With the help of the secure technology provided by Mastercard’s new partners, it seeks to improve security standards and customer’s trust in cryptocurrencies on its platforms.
Further, MA launched its Multi-token Network last year to position itself at the top of blockchain and cryptocurrency solutions. The company’s project is to meet consumers’ interest in varied yet safe payment options.
Investors can look forward to Mastercard’s future in blockchain and digital assets, along with steady year-over-year (YOY) revenue and EPS growth, for safe, consistent returns.
Block (SQ)
Block (NYSE:SQ), formerly known as Square, is a 100% digital payment platform for businesses. Company CEO Jack Dorsey changed the name to show its dedication to blockchain technology. In fact, Block has always been committed to crypto. It offers crypto payment options on its platforms, like CashApp.
Despite its stake in Bitcoin and blockchain tech, Block faced a rough end to 2023. The company reached a bottom in November but has since shown promising signs of a return to prominence. SQ reported optimistic numbers in its Q4 report, including $2.03 billion in gross profit and hopeful guidance for this year.
The stock has crossed the profit line and will undoubtedly lead the charge for blockchain implementation in mainstream payment platforms. Block also holds a massive stake in Bitcoin and will be one of the first companies to profit from increases in the use of crypto.
With its discounted value, now is an excellent time to buy Block and hold while it grows.
On the date of publication, Joel Lim did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
