The world’s most influential non-crypto-native enterprises—from luxury fashion houses to global banks—are increasingly turning to Ethereum as a foundation for innovation. These companies aren’t just dipping their toes into blockchain; they’re actively building products and services on Ethereum and its layer-2 (L2) networks like Polygon, Arbitrum, and Base. What’s more, their focus isn’t on speculative crypto trading or compliance tools—it’s on real-world applications such as tokenized assets (RWAs), NFTs, Web3 gaming, and scalable blockchain infrastructure.
This shift marks a pivotal moment in enterprise blockchain adoption. Ethereum, with its robust security, mature developer ecosystem, and long-standing decentralization, has become the go-to platform for institutions seeking to build next-generation financial and consumer experiences.
Real-World Assets (RWAs) on Ethereum
Among the most significant use cases emerging on Ethereum is the tokenization of real-world assets (RWAs). Financial institutions—including banks, asset managers, and payment processors—are leading this charge.
Of the 20 non-crypto companies building crypto-specific infrastructure, 13 are issuing RWAs on Ethereum or Ethereum L2s. These include tokenized money market funds like Franklin Templeton’s OnChain U.S. Government Money Fund and government bonds issued by entities such as the European Investment Bank.
Ethereum dominates the RWA landscape:
- It hosts nearly ten times more tokenized assets by value than its closest competitor, Stellar.
- Six of the top 10 RWA issuance protocols operate on Ethereum or its L2s.
- The total value of RWAs on Ethereum has tripled in the past year, now exceeding $160 distinct assets held across 60,000 active wallets (excluding stablecoins).
One standout example is Blackrock’s BUIDL fund, the third-largest tokenized fund across all blockchains. Launched in March 2024 on Ethereum, BUIDL offers investors exposure to short-term U.S. Treasury yields with instant settlement and full transparency. As Robert Mitchnick, Blackrock’s head of digital assets, noted:
“Through tokenization, we’re putting traditional finance exposure into a crypto-native wrapper.”
Blackrock partnered with Securitize and BNY Mellon to launch BUIDL and has since expanded it to five additional chains—three of which are Ethereum L2s.
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The Rise of Institutional Stablecoins
Beyond RWAs, several major firms are launching their own stablecoins—digital dollars backed by real-world reserves.
- PayPal launched PYUSD on Ethereum in August 2023 and later expanded to Solana.
- Robinhood, in collaboration with Kraken, Paxos, and Galaxy Digital, debuted USDG in November 2024.
Stablecoin supply on Ethereum has surged 70% year-over-year, now accounting for over 50% of the global stablecoin market. Analysts at Galaxy Research predict the total stablecoin supply could exceed $400 billion by 2025.
Stripe’s $1 billion acquisition of Bridge, a stablecoin payments platform, underscores growing confidence in this space. CEO Patrick Collison called stablecoins “the room-temperature superconductor of financial services,” highlighting their potential to improve speed, reach, and cost efficiency globally.
Regulatory momentum in the U.S., including statements from SEC Commissioner Hester Peirce advocating for tokenized securities and modernized financial markets, further supports institutional adoption.
Scalable Blockchain Infrastructure: The Layer-2 Revolution
While Ethereum remains the preferred base layer for security and decentralization, its limitations in speed and cost have driven enterprises toward layer-2 rollups—scaling solutions that inherit Ethereum’s trust while enabling high throughput and low fees.
Enterprises aren’t just using L2s—they’re building them.
Deutsche Bank & ZKsync: A Financial L2 Takes Shape
Germany’s largest bank, Deutsche Bank, is co-developing a private rollup on Ethereum with Matter Labs (creators of ZKsync). Dubbed DAMA 2, this initiative is part of a broader MAS-led project involving 24 global financial institutions exploring public blockchains for cross-border finance.
The goal? A scalable, auditable, compliant infrastructure that integrates seamlessly with regulated systems.
Alex Gluchowski, co-inventor of ZKsync, explained:
“Institutions choose ZKsync because it allows uncompromised Web3 development—offering customization, privacy, scalability, and interoperability.”
This trend isn’t limited to finance.
Sony’s Soneium: A Corporate L2 for Entertainment
Japanese tech giant Sony launched Soneium, a general-purpose L2 built using Optimism’s OP Stack. Designed to support gaming, finance, and digital entertainment ecosystems, Soneium reflects Sony’s vision of Web3 as an emotional and creative platform.
Jun Watanabe, President of Sony Block Solutions Labs, stated:
“Developing an integrated Web3 solution based on blockchain is crucial for Sony’s mission to move the world emotionally through creativity and technology.”
However, Soneium sparked debate when it imposed transaction restrictions and blacklisted addresses—raising questions about control vs. decentralization in corporate-run rollups. Still, Sony’s commitment signals a broader shift: enterprises are now investing in foundational blockchain infrastructure.
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Gaming on Ethereum L2s: Where NFTs Thrive
While many brands have stepped back from NFTs after the 2021–2023 boom, a new wave of enterprise activity is emerging—not on mainnet Ethereum, but on Ethereum L2s, where gaming and interactive experiences flourish.
Atari Revives Classics on Base
In July 2024, gaming legend Atari brought Asteroids and Breakout to Base, Coinbase’s optimistic rollup. Players could earn rewards, mint exclusive NFTs, and redeem physical merchandise—all powered by low-cost transactions.
Though the campaign ended in August 2024, it demonstrated how L2s enable frequent on-chain interactions without prohibitive gas fees.
Lamborghini & Animoca Brands: FastForWorld
Luxury automaker Lamborghini teamed up with Web3 gaming leader Animoca Brands to launch FastForWorld, a digital collectibles platform allowing players to own, trade, and race virtual Lamborghinis across multiple games like Torque Drift 2 and REVV Racing.
Crucially, these in-game assets are minted on Base, ensuring fast and affordable gameplay experiences.
As described in the official press release:
“This marks Lamborghini’s first interoperable blockchain application of its iconic vehicles in gaming.”
Lotte Group’s Caliverse on Arbitrum
South Korea’s retail giant Lotte Group announced in January 2025 that it would build its metaverse platform Caliverse on Arbitrum. Already live, Caliverse lets users shop, attend virtual concerts, and play games—all within a unified Web3 environment.
Kima Kim, CEO of Caliverse, emphasized Arbitrum’s reliability:
“Partnering with one of the most trusted blockchains allows us to deliver seamless experiences to over 40 million users.”
With plans to introduce VR and 3D movie features in 2025, Caliverse exemplifies how large-scale entertainment platforms are embracing Ethereum’s scalable architecture.
Steven Goldfeder, co-founder of Offchain Labs (Arbitrum), noted:
“Arbitrum’s 250-millisecond block time enables smooth virtual worlds—perfect for immersive gaming and retail experiences.”
Frequently Asked Questions (FAQ)
What are real-world assets (RWAs) in blockchain?
RWAs refer to physical or financial assets—like bonds, real estate, or funds—that are represented as digital tokens on a blockchain. This enables fractional ownership, faster settlement, and global accessibility.
Why do companies choose Ethereum over other blockchains?
Ethereum offers unmatched security, decentralization, developer maturity, and ecosystem support. Its L2 ecosystem also allows enterprises to scale without sacrificing trust.
Are NFTs still relevant for big brands?
Yes—but the focus has shifted. Instead of one-off collectibles, brands now integrate NFTs into gaming and utility-driven platforms like FastForWorld and Caliverse.
What is a layer-2 (L2) blockchain?
An L2 is a secondary network built on top of Ethereum that processes transactions off-chain but settles them securely on Ethereum. Examples include Arbitrum, Base, and ZKsync.
How are stablecoins being used by traditional companies?
Stablecoins like PYUSD and USDG serve as digital dollar rails for payments, remittances, and treasury management—bridging traditional finance with Web3 efficiency.
Is corporate control over L2s a threat to decentralization?
It can be. Platforms like Soneium show that corporations may impose restrictions. However, they also drive adoption and investment—sparking important debates about governance and openness.
Conclusion
Ethereum has firmly established itself as the backbone for enterprise blockchain innovation. From tokenized RWAs led by Blackrock and Deutsche Bank to immersive Web3 gaming by Atari and Lamborghini, the network is enabling use cases far beyond speculation.
The rise of Ethereum L2s is critical to this evolution—offering scalability while preserving security. Whether it’s Sony building its own rollup or Lotte Group launching a metaverse on Arbitrum, companies are no longer just experimenting; they’re investing in infrastructure.
As regulatory clarity improves and stablecoin adoption accelerates, 2025 could mark the year when Ethereum becomes not just a crypto pioneer—but a mainstream technological foundation.
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