The institutional division of <a href="https://www.cryptoknowmics.com/news/coinbase-launches-ethereum-staking-to-us-clients/" target="_blank" rel="noopener">Coinbase</a> will assist the largest asset manager in the world, BlackRock (NYSE: BLK), in giving institutional clients of Aladdin access to digital currencies. BlackRock selected Coinbase, according to the corporation, because of its "scale, experience, and integrated product offering." Since it was established in 2012 by Brian Armstrong and Fred Ehrsam, the publicly traded business Coinbase (Nasdaq: COIN) has a lengthy history in the cryptocurrency industry.

https://twitter.com/coinbase/status/1555161624322998273
<h2>BlackRock: One of the Biggest Financial Firms in the World</h2>
One of the biggest financial firms in the world is Blackrock, a multinational investment management company with headquarters in New York. In 2021, BlackRock managed about $10 trillion in assets under management (AUM). The collaboration between Coinbase, BlackRock, and Aladdin is seen as a "milestone" for the company that manages digital assets. The Asset, Liability, Debt, and Derivative Investment Network, aka ALADDIN platform, is a trading and investment management platform created especially for BlackRock's institutional customers.
<h2>Blackrock and Coinbase Platform Integration</h2>
Tejpaul and Tusar wrote "BlackRock and Coinbase would continue to advance the platform integration" and would push out capabilities to interested clients in phases. A couple of weeks ago, Rick Rieder, chief investment officer (CIO) of global fixed income at BlackRock, said that cryptocurrencies like Bitcoin (BTC) are durable assets. BlackRock introduced a blockchain exchange-traded fund in April and the same month was designated "a key asset manager of USDC cash reserves."

BlackRock's worldwide head of strategic ecosystem relationships, Joseph Chalom, observed that the firm's customers were more interested in digital currencies. The morning trading sessions on Thursday saw a more than 16% spike in COIN shares following the news of the agreement between Coinbase and BlackRock. <a href="https://coinmarketcap.com/currencies/coinbase-pre-ipo-tokenized-stock-ftx/" target="_blank" rel="nofollow noopener">COIN</a>, meanwhile, has lost 72.46 percent of its value since reaching its all-time high. Goldman Sachs also lowered COIN to a sell rating at the end of June.

Coinbase Partners With BlackRock, the World’s Largest Asset Manager

The institutional division of Coinbase will assist Blackrock (NYSE: BLK) in giving institutional clients of Aladdin access to digital currencies.

Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

Coinbase Partners With BlackRock, the World’s Largest Asset Manager

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