BlackRock Taps Coinbase for Institutional Crypto Trading and Custody Services

Read full article at CryptoPotato.

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 CryptoPotato, BlackRock earlier stated plans to launch cryptocurrency trading services.

This article is strictly for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. CryptosOnline.com does not provide investment, tax, legal, business or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any loss or damage caused or alleged to be caused by, or in connection with, the use of or reliance on any content, goods, services or opinions mentioned in this article.

#Bitcoin #Crypto #Cryptocurrency