On August 4, Brett Tejpaul, Head of Coinbase Institutional, and Greg Tusar, Vice President of Institutional Products, announced that Coinbase had been hired by financial giant Blackrock to provide cryptocurrency access to its Aladdin platform. announced that he had been selected.
Blackrock Selects Coinbase to Connect Aladdin Clients to Cryptocurrencies
Coinbase’s institutional arm is owned by BlackRock (NYSE: black), providing Aladdin institutional investors with access to digital currencies. The company said Blackrock chose his Coinbase because of the company’s “scale, experience, and integrated product offering.”Listed company coin base (Nasdaq: coin) has a long history in the crypto space since it was founded by Brian Armstrong and Fred Ehrsam in 2012.
New York-based multinational investment management firm black rock is one of maximum financial institutions around the world.Treat Blackrock Roughly $10 trillion Coinbase considers its partnerships with Blackrock and Aladdin to be “milestones” for the crypto firm. The Aladdin Platform, which stands for Asset, Liability, Debt, and Derivative Investment Network, is Blackrock’s investment management and trading platform designed specifically for institutional investors.
“Blackrock and Coinbase will continue to integrate their platforms and gradually roll out features to interested clients,” Tejpaul and Tusar wrote on Thursday. In mid-June, Rick Rieder, Chief Investment Officer (CIO) of BlackRock’s global fixed income division, said: explained Cryptocurrencies like Bitcoin (Bitcoin) is a durable asset. April, Black Rock launch A blockchain exchange-traded fund, BlackRock named The same month, “Leading Asset Manager for USDC Cash Reserves.”
Blackrock Exec: “Institutional clients are increasingly interested in gaining exposure to the digital asset market”
Blackrock’s global head of strategic ecosystem partnerships, Joseph Chalom, said Blackrock’s customers are drawn to digital currencies. “Our institutional investors are increasingly interested in exposure to the digital asset market and are focused on how to efficiently manage the operational lifecycle of these assets,” Chalom said Thursday. told to A BlackRock executive added:
This Aladdin connection will allow clients to manage their Bitcoin exposure directly in their existing portfolio management and trading workflows, with a complete portfolio view of risk across asset classes.
Following the announcement of the Coinbase and Blackrock partnership, COIN shares rose more than 16% in Thursday’s (EST) morning trading session.However, COIN is down72.46% of value Stock price from all-time high.Also, at the end of June, Goldman Sachs Downgraded COIN for sale evaluation.
The news follows an alleged investigation by the US Securities and Exchange Commission (SEC). report July 25, and the company’s recent European expansionIn mid-June, Coinbase will also clearly Cut 18% of the workforce to “definitely [Coinbase stays] The company’s co-founder and CEO, Brian Armstrong, said:
What do you think of Coinbase partnering with Blackrock and integrating with their Aladdin platform? Let us know your thoughts on the matter in the comments section below.
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