BlackRock Taps Coinbase for Institutional Crypto Trading and Custody Services

BlackRock Taps Coinbase for Institutional Crypto Trading and Custody Services


BlackRock, the world’s largest asset manager, is partnering with US crypto exchange giant Coinbase, to offer digital asset exposure to institutional clients.

  • Coinbase announced the collaboration in a blog post on Thursday (August 4, 2022). According to the statement, institutional clients of BlackRock’s investment management platform Aladdin (Asset, Liability, Debt, and Derivative Investment Network) will be able to access crypto through Coinbase Prime.
  • Global Head of Strategic Ecosystem Partnerships at BlackRock, Joseph Chalom, said that there has been an increased interest in seeking digital assets exposure from the company’s institutional clients. Chalom added:

“This connectivity with Aladdin will allow clients to manage their bitcoin exposures directly in their existing portfolio management and trading workflows for a whole portfolio view of risk across asset classes.”

  • Coinbase Prime will handle trading and custody services for Aladdin customers. For now, clients will have institutional exposure to bitcoin, while both parties will work together to introduce more functionalities to interested customers.
  • As previously reported by Crypto PotatoBlackRock earlier stated plans to launch cryptocurrency trading services.

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.


Source link

Leave a Comment