The AFP Payments Guide series examines payments-related topics that are developed via interviews with treasury professionals. Presented as quarterly case studies with practical applications and tools to help you make informed decisions about key payment services.

AFP Payments Guide: Cryptocurrency and Non-fungible Tokens

Underwritten by MUFG

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The 2022 AFP Payments Guide to Cryptocurrency and Non-fungible Tokens for Corporate Payments , underwritten by MUFG, is designed to help treasurers navigate the risks associated with managing cryptocurrency and digital assets.

With the launch of central bank digital currencies (CBDCs), virtual currencies (including cryptocurrencies) have moved into the mainstream, accelerating the timeframe at which corporate treasurers will have to start accepting and making cryptocurrency payments and managing digital assets. As a result, treasurers are already being asked to develop a crypto strategy as the market starts to deepen. 

The Payments Guide will help prepare treasury professionals by:

1. Defining cryptocurrency
2. Building a business case to invest in a cryptocurrency or NFT strategy
3. Showing the future of crypto

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DEFINING CRYPTO

To focus on identifying and managing the risks of transacting via cryptocurrency and the sale of NFTs, you need to understand how cryptocurrency and NFTs work and the blockchain that underpins them both. 

  • Blockchain – a form of distributed public ledger technology that allows participants to record a string of transactions.
  • Cryptocurrency – a digital asset that cannot be exchanged for physical currency. 
  • Non-fungible Tokens (NFTs) – a digital asset whose transferable ownership is tracked in an underlying blockchain. 

    • Download the guide.

    BUILDING A BUSINESS CASE

    Building a business case to invest in a cryptocurrency or NFT strategy means taking the general benefits and costs and evaluating them in the context of an individual company. The following questions will help in this process: 

  • Will accepting cryptocurrency and/or issuing NFTs help retain existing customers and/or access new ones? 
  • Do we need to prepare to accept cryptocurrency now, in anticipation of the development of new markets? 
  • What decisions need to be made before handling cryptocurrency? 
    • AFP helps to answer these questions, learn more.

    FUTURE OF CRYPTO

    Cryptocurrency offers potential efficiency savings, but there are costs involved in the program setup. On the other hand, if (or when) the metaverse economy takes off, it is highly likely that cryptocurrency and NFTs will play an important role 

    Learn more about the future of blockchain and crypto.

    DOWNLOAD the payments guide 

    Published October 19, 2022