Securities Finance Industry News | BlackRock appoints Coinbase to enable crypto-asset services for Aladdin users

BlackRock has appointed Coinbase to provide access to its institutional clients to crypto-assets through Coinbase Prime.

Through this relationship, BlackRock clients using the asset manager’s Aladdin platform will be able to use agency trading, custody, prime brokerage and reporting services through Coinbase’s prime brokerage platform, starting with bitcoin.

Commenting on the appointment, Joseph Chalom, Global Head of Ecosystem Strategic Partnerships at BlackRock, said: “Our institutional clients are increasingly interested in exposure to digital asset markets and are focused on how to effectively manage the cycle. operational life of these assets.

“This connectivity with Aladdin will allow clients to manage their bitcoin exposures directly within their existing portfolio management and trading workflows for a holistic view of risk across all asset classes.”

The two companies say they will continue to advance platform integration and roll out features through a phased release for institutional clients under contract with Aladdin and Coinbase.

Coinbase says its primary institutional brokerage service, Coinbase Prime, integrates agency trading, custody, core funding, staking and staking infrastructure, data and reporting services across the lifecycle crypto-assets. It combines these services with security, assurance and compliance to provide a full-service platform for institutional clients wishing to access large-scale crypto-asset markets.

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