The leading crypto exchange Coinbase has entered into a partnership with the “secret world power” BlackRock to provide direct access to cryptocurrencies to the clients of the most influential asset management in the world. The market leader Bitcoin (BTC) makes the beginning.
In the future, customers of the institutional BlackRock investment platform Aladdin will be able to trade cryptocurrencies via the Coinbase Prime service, store them and use some other services related to investments in the crypto market.
Coinbase Prime, in turn, is the institutional trading platform of Coinbase, which offers professional clients services such as trading, custody, staking and reporting for more than 300 different cryptocurrencies. The service is especially tailored to large investors such as hedge funds, asset managers and financial institutions. Currently, Coinbase Prime already has more than 13,000 customers.
We are proud to announce a partnership with @BlackRock. BlackRock’s Aladdin clients will now have direct access to crypto markets through Coinbase Prime.
Read more https://t.co/LA3XeYYbvs
– Coinbase (@coinbase) August 4, 2022
Joseph Chalom, the Head of Strategic Ecosystem Partnerships, comments on the new collaboration as follows:
“The connection to Aladdin will enable our customers to integrate their Bitcoin investments directly into their existing portfolio management and thus get an overall overview of their risk positions in all asset classes.“
Institutional investors can therefore manage all their crypto services on Coinbase Prime via a user interface or platform API and easily merge them with other investments in other asset classes. The custody services of the platform are handled by the Coinbase Custody Trust Company, which has a corresponding approval from the New York Financial Services Authority (NYDFS).
