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Towards Wider Institutional Adoption of Bitcoin (BTC)

The world’s largest asset manager, BlackRock, has decided to offer bitcoin trading and custody services through a new partnership with Coinbase. Through this project, Coinbase and BlackRock could greatly promote the wider adoption of cryptocurrencies by institutions.

BlackRock signs partnership with Coinbase to offer bitcoin-related services

According to tweet from the Bitcoin Archive on August 4, “Asset Manager BlackRock offers bitcoin services to institutions“. It turns out that the largest asset manager in the world has signed a partnership with the Coinbase exchange. With this partnership, BlackRock will offer institutions bitcoin and other cryptocurrency trading and custody services via Coinbase Prime. It will also offer superior mediation and reporting services.

To facilitate transactions, the project aims to connect Coinbase Prime and Aladdin. Aladdin is BlackRock’s end-to-end investment management platform. Thanks to Coinbase Prime, Aladdin will be able to offer its institutional clients direct access to cryptocurrencies. Note that his offering will initially be focused specifically on bitcoin (BTC).

Additionally, Coinbase Prime was developed for institutions. To achieve this, the platform has an advanced infrastructure to manage the entire transaction lifecycle related to crypto investment, trading and custody. Uses state-of-the-art compliance, security and assurance tools.

According to Joseph Chalom, Global Head of Strategic Ecosystem Partnerships at BlackRock, the new partnership with Coinbase will be beneficial. Joseph explained that BlackRock’s institutional clients are looking to enter the crypto market, in this case bitcoin. And the connection between Aladdin and Coinbase Prime will satisfy these customers. It will offer them a “global view of risk across all asset classes” for more efficient investments.

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Luc Jose Adjinacou's avatar
Luc Jose Adjinacou

Far from dampening my enthusiasm, the cryptocurrency investment failure of 2017 only increased my enthusiasm. Therefore, I decided to study and understand the blockchain and its many uses and convey with my pen the information related to this ecosystem.

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