BlackRock Partners With Coinbase: Why This Is Mega-important News

BlackRock Partners With Coinbase: Why This Is Mega-important News

BlackRock Partners With Coinbase: Why This Is Mega-important News

  • BlackRock and Coinbase offer joint crypto services 
  • They will run on the Aladdin platform
  • After the news, Coinbase shares soared

BlackRock, the world’s largest asset manager, is launching crypto services for institutional clients. The Coinbase exchange, or their Coinbase Prime platform, will help them with this.

The essence of cooperation

BlackRock has Aladdin investment management software. This platform will now have direct access to bitcoin trading through Coinbase Prime. In addition, institutional investors can choose Coinbase’s own brokerage and custody services.

The service is designed initially only for bitcoins, and Coinbase does not mention integrating other cryptocurrencies. However, they announced the prospect of expanding cooperation and new services for interested customers. 

After such news, Coinbase shares soared by 35%. Due to high volatility, exchanges have temporarily stopped trading in these assets.

Why is this an important collaboration?

As we have already said, BlackRock is the most significant investment company; it manages over $10 trillion in assets. The brand’s clients include private investors, banks, pension funds and trusts. All of these assets can now potentially go into the crypto industry.

Accessibility at the level of institutional investment is a critical factor for the further development of the crypto industry.

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