BlackRock expands crypto offering through Coinbase partnership

The two firms will create new access points for institutional crypto adoption through the connection of their Coinbase Prime and Aladdin platforms.

Coinbase is partnering with BlackRock to provide institutional clients of BlackRock’s end-to-end investment management platform, Aladdin, with direct access to crypto through Coinbase Prime.

Aladdin’s institutional client base will be provided with crypto trading, custody, prime brokerage and reporting capabilities.

Coinbase Prime, which is specifically designed for institutions, integrates agency trading, custody, prime financing, staking, data and reporting, to support the entire transaction lifecycle.

These capabilities are combined with security, insurance and compliance practices to offer Coinbase’s institutional clients a full-service platform to access crypto markets at scale.

“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.”

The two firms will continue to integrate the platform, rolling out functionality in phases to interested clients. Institutions contracted with both Aladdin and Coinbase have immediate access to the platform.

“As the trusted partner enabling institutions to participate and transact in the cryptoeconomy, we are committed to pushing the industry forward and creating new access points as institutional crypto adoption continues to rapidly accelerate,” said Brett Tejpaul, head of Coinbase Institutional and Greg Tusar, vice president, Institutional Product, in a blog post announcing the partnership.

This latest partnership follows that of TS Imagine, which successfully connected with Coinbase Prime to provide institutional clients with a fully regulated method of trading cryptocurrencies earlier this year.