BlackRock taps Coinbase to provide institutional crypto trading and custody services

BlackRock, the world’s largest asset manager, is partnering with U.S. cryptocurrency exchange giant Coinbase to provide institutional clients with exposure to digital assets.

  • Coinbase announces partnership blog post Thursday (August 4, 2022). According to the statement, institutional clients of BlackRock’s investment management platform Aladdin, the asset, liability, debt and derivatives investment network, will be able to access cryptocurrencies through Coinbase Prime.
  • Joseph Chalom, global head of strategic ecosystem partnerships at BlackRock, said there is growing interest in seeking exposure to digital assets from the firm’s institutional clients. Chalom added:

“This connection to Aladdin will allow clients to manage their Bitcoin exposure directly within their existing portfolio management and trading workflows to gain a whole portfolio view of risk across asset classes.”

  • Coinbase Prime will handle trading and custody services for Aladdin customers. For now, clients will have institutional exposure to Bitcoin, while both parties will work together to introduce more functionality for interested clients.
  • as previously reported encrypted potatoBlackRock earlier said it plans to launch a cryptocurrency trading service.
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