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.
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.