Coinbase BlackRock Partnership | Offering Crypto Trading, Custody & Prime Brokerage

50 sec read

Coinbase BlackRock Partnership | Offering Crypto Trading, Custody & Prime Brokerage

Coinbase Prime, the crypto exchange’s institutional prime broker platform, will provide these new services

A new partnership between Coinbase and BlackRock will make crypto more accessible to BlackRock’s institutional clients

A Coinbase press release reported Thursday that Coinbase Prime has over 13,000 institutional clients. Those who use BlackRock’s end-to-end investment management platform Aladdin will have access to Coinbase Prime’s offerings through the new partnership.

We want to hear from you. Take our Audience Survey and with $100 Amazon Gift Card
“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,” said Joseph Chalom, global head of strategic ecosystem partnerships at BlackRock, in an official news release. “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.”

Aladdin clients must also be Coinbase users in order to access these services. The partnership between Coinbase and BlackRock comes as the asset manager is working to create new access points into the crypto industry.

The new services will be rolled out to interested clients in phases.

With the new partnership announcement, Coinbase shares were up 40% when the market opened Thursday morning. The crypto exchange’s stock price is $90.59 at the time of this report.

Via this site