Coinbase and BlackRock announced their partnership this Thursday. Coinbase is a well-known crypto exchange. Whereas BlackRock is one of the leading investment management companies. The partnership will benefit institutional investors. It will allow crypto trading and custody services.
This collaboration news came out between the crypto market crash. Coinbase also noted its share was down by 60% this year. The collaboration of both companies will allow crypto trading.
Coinbase’s institutional trading platform is Coinbase Prime. That provides crypto trading, custody, and prime brokerage. It will report capabilities to the institutional investors of BlackRock, Aladdin. While Aladdin is the portfolio management software. It eases the portfolio management of institutional investors.
The partnership of the leading crypto firms makes some positive impact. Even in the current “crypto winter,” this partnership shows belief in the crypto market. Coinbase and BlackRock signal institutional investors to keep faith in crypto trading. It will provide development management services.