Just In: BlackRock Joins Hands With Coinbase Despite SEC Lawsuit

Just In: BlackRock Joins Hands With Coinbase Despite SEC Lawsuit
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Blackrock, the world’s largest asset manager landed in partnership with COINBASE Global amid the ongoing uncertainty in the crypto industry. This deal will create a new gateway for institutional crypto investors.

Coinbase to power BlackRock clients

According to the blog, Blackrock’s clients who already own digital assets on Coinbase can now access Aladdin, which is an asset management suite. This will help the users to manage their portfolios and see through risk analysis over their investment decisions.

It added that Aladdin, BlackRock clients will get direct access to crypto, however, this will start from Bitcoin (BTC). The users will be connected under Coinbase prime services. This will include trading, custody, prime brokerage and reporting capabilities.

Coinbase mentioned that its client’s list comprises hedge funds, asset allocators, corporate treasuries, financial institutions and other major institutions.

Joseph Chalom, Head of Strategic ecosystem at BlackRock, said that their institutional clients’ interest in the digital assets market is on a surge. The firm is focused on efficiently managing these assets. This partnership will allow clients to manage their Bitcoin holdings directly.

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The move comes one week after its partnership with Coinbase to provide institutional clients with crypto trading access.