Coinbase to provide crypto services to BlackRock institutional clients
Coinbase Partnership with BlackRock aims to provide Aladdin clients access to crypto trading and custody via COinbase Prime.
Coins would allow institutional investors of BlackRock to carry out crypto transactions via its Coinbase Prime feature including Crypto trading, custody, prime brokerage, and reporting capabilities.
According to Coinbase a new partnership with BlackRock to provide direct crypto services for its institutional clients using Aladin an end-to-end investment management platform of the asset manager.
Joshph CHalom the global head of strategic ecosystem partnership at BlackRock said:
“Our institutional clients are increasingly interested in gaining exposure to digital asset markets and are focused on how to efficiently manage the operational lifecycle of these assets. 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.”
BlackRock, Inc. is an American multinational investment management corporation based in New York City initially as risk management and fixed income institutional asset manager, BlackRock is the world's largest asset manager, with US$10 trillion in assets under management as of January 2022
In March, BlackRock's CEO Larry Fink said the asset manager was looking at how to serve clients with digital currencies, citing the increased interest in the space.