Coinbase and BlackRock have joined hands with each other to provide Aladdin access to new points for institutional crypto adoption by connecting Aladdin and Coinbase Prime. Aladdin is BlackRock’s investment management platform that now has direct access to crypto.
As per the partnership terms, Coinbase Prime will offer the institutional clients of Aladdin access to crypto trading, custody, reporting, and prime brokerage. Aladdin shares its client with Coinbase, which means the benefits will mutually serve both ways.
Coinbase Prime serves as a full-service platform by combining its capabilities like prime financing, custody, staking, & data reporting with practices, namely insurance, security, & compliance. The benefits are available for all the clients of Coinbase, including asset allocators, hedge funds, corporate treasuries, financial institutions, and other institutions.
The integration with Coinbase has been hailed by Joseph Chalon, the Global Head of Strategic Ecosystem Partnerships at BlackRock. Joseph Chalon commented that the connectivity would allow its clients to manage their exposure in Bitcoin, which is directly linked to their current portfolio management and trading workflows.
Joseph Chalon also said that clients of Aladdin were interested in gaining exposure to digital asset markets with a core focus on managing the operational lifestyle of the assets.
Coinbase also stated that the partnership was an exciting milestone for the firm by expressing its commitment to push the industry forward and create new access points for institutional crypto adoption.
The update was published as an official blog post wherein Coinbase said that it was honored to partner with BlackRock to further its aim of offering significant access and transparency to crypto. The functionality will be rolled out in a phased manner, with a few users accessing them first, followed by the wide implementation in the following phases.
Coinbase and BlackRock plan on continuing the progress of the platform integration in the future.
Coinbase Prime has been built specifically for institutions as a leading prime broker platform. More than 13,000 institutional clients trust the services of Coinbase Prime, and clients can access the platform through a user interface or API.
Coinbase is a crypto exchange platform that is headquartered in San Francisco. It was founded in 2012 and now has over 150 trading pairs available along with 3,000+ cryptocurrencies listed for the users.
Users who are looking to buy virtual currency with their traditional currency can best spend their time on Coinbase, where it is easy to learn new things related to cryptocurrency and its trading. Coinbase is definitely secure as it strictly adhered to KYC rules. Many Coinbase reviews provide additional information on why registering on Coinbase is considered the best choice.
Assets of Coinbase are protected under insurance with licensed operations across the United States of America and other countries. Interested users can get started with Coinbase in a few minutes by creating their account on the platform and linking their bank account with it.