BlackRock Rumored To Offer Crypto Trading Services to Clients
The world’s largest asset manager with over $10 trillion under management, BlackRock, will soon bring cryptocurrency trading services to its investor clients, according to three sources familiar with the matter.
According to a source, BlackRock’s clients can borrow from the firm with crypto assets as collateral.
Another person said that the New York-based company will facilitate its clients that include public pension schemes, endowments and sovereign wealth funds, to trade cryptocurrency via its integrated investment management platform, Aladdin (short for “Asset, Liability, Debt and Derivative Investment Network”).
The sources also say that BlackRock has established a large working group of “approximately 20 or so” to evaluate crypto, adding:
“They see all the flow that everyone else is getting and want to start making some money from this.”
BlackRock owns 16.3% of Michael Saylor led business intelligence firm MicroStrategy, who are a corporate frontrunner with billions of USD worth in Bitcoin on its balance sheet. The asset manager also holds significant investments in Bitcoin mining operations.
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Source: igaming
