Arrow Electronics joins Hedera Governing Council
Arrow Electronics, a $28 billion technology distributor, has joined the Hedera Governing Council to advance blockchain applications in supply chains. This partnership highlights growing integration of traditional finance with Web3 technologies. It could pave the way for more efficient crypto payments across borders.
Arrow Electronics has officially become a member of the Hedera Governing Council, marking a significant collaboration between a major tech firm and the blockchain network. Valued at around $28 billion, Arrow is committed to leveraging Hedera's technology to enhance supply chain transparency, automate compliance, and improve logistics efficiency.
This move is positioned as a step toward Web3 banking, where blockchain streamlines operations in traditional finance. By joining the council, Arrow aims to integrate these solutions into its operations, potentially laying the groundwork for seamless cross-border crypto payments.
The partnership has sparked interest in Hedera's native token, HBAR, which is currently trading at about $0.2307. Market analysis from the announcement suggests HBAR is forming a squeeze pattern on charts, with potential to break above the $0.24-$0.245 range and reach $0.27 or $0.31. However, the crypto market's volatility remains a key concern, particularly for business applications like crypto-based payroll.
Stablecoins such as USDC are noted as tools to mitigate price swings in crypto salaries. The trend of employees requesting payment in Bitcoin is gaining traction among tech workers, and this partnership may bolster confidence in blockchain payroll solutions. In the post-COVID era, especially looking toward 2025, companies are increasingly adopting blockchain for efficient HR and payroll processes.
Overall, Arrow's involvement signals broader institutional adoption of blockchain, which could transform supply chain management and the landscape of crypto payments. While HBAR's fundamentals and technical indicators are promising, the market's unpredictability means outcomes remain uncertain.