Coinbase Partners With World’s Largest Asset Manager Blackrock to Give Aladdin Clients Access to Cryptocurrencies

Coinbase Partners With World’s Largest Asset Manager Blackrock to Give Aladdin Clients Access to Cryptocurrencies

अगस्त पर 4, the head of Coinbase Institutional, Brett Tejpaul, and the vice president of institutional product, Greg Tusar, announced that Coinbase has been selected by the financial giant Blackrock to provide the firm’s Aladdin platform access to cryptocurrencies.

Blackrock Chooses Coinbase to Connect Aladdin Clients to Crypto

Coinbase’s institutional arm will help the world’s largest asset manager, ब्लैक रॉक (एनवाईएसई: BLK), provide Aladdin’s institutional clients with access to digital currencies. The company noted that Blackrock chose Coinbase due to the firm’s “scale, experience, and integrated product offering.” The publicly traded company कॉइनबेस (Nasdaq: COIN) has a long history in the crypto space since it was founded in 2012 by Brian Armstrong and Fred Ehrsam.

Coinbase Partners With World’s Largest Asset Manager Blackrock to Give Aladdin Clients Access to Cryptocurrencies

The New York-based multinational investment management corporation ब्लैक रॉक is one of the largest financial institutions worldwide. Blackrock deals with roughly $10 trillion in assets under management (AUM) recorded in 2021. Coinbase considers the partnership with Blackrock and Aladdin a “milestone” for the crypto asset company. The Aladdin platform stands for the Asset, Liability, Debt, and Derivative Investment Network and it’s an investment management and trading platform designed specifically for Blackrock’s institutional clients.

“Blackrock and Coinbase will continue to progress the platform integration and will roll out functionality in phases to interested clients,” Tejpaul and Tusar wrote on Thursday. In mid-June, Rick Rieder, chief investment officer (CIO) of global fixed income at Blackrock, व्याख्या की that cryptocurrencies like bitcoin (बीटीसी) are durable assets. In April, ब्लैक रॉक launched a blockchain exchange-traded fund and Blackrock was named “a primary asset manager of USDC cash reserves” the same month.

Blackrock Exec: ‘Institutional Clients Are Increasingly Interested in Gaining Exposure to Digital Asset Markets’

Joseph Chalom, the global head of strategic ecosystem partnerships at Blackrock, remarked that Blackrock’s clientele has been gravitating toward digital currencies. “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,” Chalom said on Thursday. The Blackrock executive added:

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.

Following the Coinbase and Blackrock partnership announcement, COIN shares increased more than 16% higher during the morning trading sessions on Thursday (EST). हालाँकि, COIN is down ​​72.46% in value from the stock’s all-time price high. Moreover, at the end of June, गोल्डमैन साक्स downgraded COIN to a sell rating.

The news follows the alleged U.S. Securities and Exchange Commission (सेकंड) probe की सूचना दी on July 25, and the company’s recent European expansion. In mid-June, Coinbase also revealed it had to cut back 18% of the firm’s workforce to “ensure [Coinbase stays] healthy during this economic downturn,” according to the company’s co-founder and CEO Brian Armstrong.

इस कहानी में टैग
Aladdin, Aladdin Platform, asset manager, AUM, ब्लैक रॉक, Blackrock Coinbase, BLK, Brett Tejpaul, Brian Armstrong, COIN, कॉइनबेस, Coinbase Blackrock, coinbase exchange, Coinbase Institutional, क्रिप्टो संपत्ति, क्रिप्टोकरेंसी, डिजिटल मुद्राएं, Fred Ehrsam, Greg Tusar, Joseph Chalom, Rick Rieder, shares, USDC cash reserves

What do you think about Coinbase partnering with Blackrock and integrating with the firm’s Aladdin platform? Let us know your thoughts about this subject in the comments section below.

जेमी रेडमैन

जेमी रेडमैन मैक्सिममहॉरर्स डॉट कॉम न्यूज में न्यूज लीड हैं और फ्लोरिडा में रहने वाले एक वित्तीय तकनीकी पत्रकार हैं. रेडमैन तब से क्रिप्टोक्यूरेंसी समुदाय का सक्रिय सदस्य रहा है 2011. उसे बिटकॉइन का शौक है, ओपन-सोर्स कोड, और विकेंद्रीकृत अनुप्रयोग. सितंबर के बाद से 2015, रेडमैन ने इससे अधिक लिखा है 5,700 Maxhorrors.com के लिए लेख आज उभर रहे विघटनकारी प्रोटोकॉल के बारे में समाचार.




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