Blackrock in Deal With Coinbase to Give Crypto Access to Clients

NEW YORK — Coinbase, one of the leading cryptocurrency trading platforms, is partnering with BlackRock, the world’s largest asset manager, to provide institutional clients of Aladdin, BlackRock’s end-to-end investment management platform, with direct access to crypto, starting with bitcoin, through connectivity with Coinbase Prime. Coinbase Prime will provide crypto trading, custody, prime brokerage, and reporting capabilities to Aladdin’s Institutional client base who are also clients of Coinbase.

Built for institutions, Coinbase Prime integrates advanced agency trading, custody, prime financing, staking, and staking infrastructure, data, and reporting that supports the entire transaction lifecycle. Coinbase’s clients include hedge funds, asset allocators, financial institutions, corporate treasuries and other institutions.

“Our institutional clients are increasingly interested in gaining exposure to digital asset markets and are focused on how to efficiently manage the operational lifecycle of these assets,” said Joseph Chalom, Global Head of Strategic Ecosystem Partnerships at BlackRock. “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.”

BlackRock and Coinbase will continue to progress the platform integration and will roll out functionality in phases to interested clients. Access is available for institutions contracted with both Aladdin and Coinbase.

Coinbase Prime is the leading institutional prime broker platform for crypto assets, trusted by over 13,000 institutional clients.