BlackRock Announces Intentions To Provide Cryptocurrency Trading Capabilities
The world&39s biggest asset manager, BlackRock, has announced its intentions of planning to provide cryptocurrency trading capabilities to its investor clientele. As such, clients will be permitted to borrow from BlackRock by offering cryptocurrency assets as collateral.
The New York-based firm, which manages more than $10 trillion in assets for institutions, intends to join the cryptocurrency industry with &39client assistance trading and later with their own respective credit facility&39, according to the company&39s website.
BlackRock&39s clients, which also include public pension schemes, endowments, and independant wealth funds, shall be able to trade cryptocurrencies using Aladdin, the asset manager&39s integrated investment management platform.
The official launch date of the new service is currently unknown.
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