The world’s largest asset manager, BlackRock, partners with the largest crypto exchange in the US, Coinbase, to offer services to Aladdin clients. This is one of the biggest collaborations for the crypto industry and shows the trust that Coinbase has built in this sector. BlackRock’s institutional clients will be able to trade Bitcoin via the asset manager’s platform, which will, in turn, be connected to Coinbase Prime. Apart from trading, Coinbase will also offer custody services, prime brokerage, and reporting options to BlackRock’s clients.
BlackRock partners with Coinbase to offer crypto services
Most asset managers globally are seeing an increase in demand and interest in crypto assets from their clients. And BlackRock is no different. Their clients have also shown keen interest in getting exposure to Bitcoin and other digital assets. So, BlackRock has partnered with the best out there. This ensures that clients are able to manage their digital asset portfolio and traditional assets all from one place.
Even Coinbase is really stoked about this. And why won’t they be? BlackRock has trillions of dollars under AUM, and partnership with such a major firm is an accomplishment within its own rights. The company is looking forward to more such partnerships that can propel the industry forward and make crypto more accessible to everyone.
For now, Coinbase will focus on building its functionality with BlackRock’s platform. Once things are ready, only the clients that show interest in the feature will be given the option.
Coinbase Prime, which will be integrated with BlackRock’s platform soon, is a platform built for institutional clients. They already have around 13,000 users on the platform. It supports 200 assets for trading and around 300 for custody, staking, reporting, and more. Since Coinbase Prime has been designed especially for institutional clients, it keeps in mind the nitty gritty of their requirements.
Since Coinbase Prime supports APIs, it is easy to integrate them on the platform by their partners. It also supports products like ETFs and ETPs, and even the New York Department of Financial Services has qualified it, making it a trustable platform.
What are your thoughts as BlackRock partners with Coinbase to offer crypto services? And do you think this is the most extensive collaboration of the crypto industry till now? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.