One of the leading crypto exchanges, Coinbase revealed its partnership with the world’s largest asset manager, BlackRock to provide direct access to crypto via Coinbase Prime to Aladdin’s institutional clients.
Aladdin is the end-to-end investment management platform of BlackRock.
The blog post states that Coinbase Prime will initially give Aladdin’s institutional clients immediate access to Bitcoin. Additionally, it will provide crypto trading, custody, prime brokerage, and reporting for Aladdin’s customers.
Coinbase Prime also helps institutional clients with advanced agency trading, custody, prime financing, staking, and staking infrastructure and data.
For the assurance of security of investment, Coinbase Prime covers insurance and follows compliance practices.
Coinbase is currently the leading crypto exchange whose client base includes hedge funds, asset allocators, financial institutions, corporate treasuries, and other institutions.
“This connectivity with Aladdin will allow clients to manage their bitcoin exposures directly in their existing portfolio management and trading workflows for a whole portfolio view of risk across asset classes,” said Joseph Chalom, Global Head of Strategic Ecosystem Partnerships at BlackRock.
The blog stated that BlackRock and Coinbase integration will roll out functionality in phase for interested clients. However, institutions that are contracted with Aladdin and Coinbase are able to get the access.