towards wider institutional adoption of bitcoin (BTC)

The world’s largest asset manager, BlackRock, has decided to offer bitcoin trading and custody services through a new partnership with Coinbase. Through this project, Coinbase and BlackRock could significantly promote wider institutional adoption of cryptocurrencies.

BlackRock signs a partnership with Coinbase to offer bitcoin-related services

According to a tweet from Bitcoin Archive on August 4th, “asset manager BlackRock offers bitcoin services to institutions“It turns out that the world’s largest asset manager has signed a partnership with the Coinbase exchange. With this partnership, BlackRock will offer institutions bitcoin and other cryptocurrency trading and custody services via Coinbase Prime. Likewise, it will offer first-rate brokerage and reporting services.

To facilitate transactions, the project aims to connect Coinbase Prime and Aladdin. Aladdin is a BlackRock platform for end-to-end investment management. Thanks to Coinbase Prime, Aladdin will be able to offer its institutional clients direct access to cryptocurrencies. Note that its offering will be particularly focused on bitcoin (BTC) in the beginning.

That said, Coinbase Prime was developed for institutions. To do this, the platform has an advanced infrastructure to manage the entire lifecycle of transactions related to staking, trading and custody of cryptocurrencies. Use state-of-the-art compliance, security, and insurance tools.

According to Joseph Chalom, BlackRock’s Global Head of Strategic Ecosystem Partnerships, the new partnership with Coinbase will be beneficial. Joseph explained that BlackRock’s institutional clients are eager to enter the cryptocurrency market, in this case bitcoin. And the connectivity between Aladdin and Coinbase Prime will please these customers. It will offer them “a global view of risk across all asset classes” for more effective investments.

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Luc Jose Adjinacou avatar

Luc José Adjinacou

Far from dulling my enthusiasm, a fruitless investment in a cryptocurrency in 2017 only increased my enthusiasm. I therefore decided to study and understand the blockchain and its multiple uses and to transmit information relating to this ecosystem with my pen.

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