Coinbase will provide the Aladdin platform with access to cryptocurrencies – Bits Media

Coinbase Institutional Division will help world's largest asset manager Blackrock provide Aladdin's institutional clients with access to digital currencies.

Blackrock chose Coinbase because of its scale, experience and comprehensive product offering, the company explains. Blackrock manages approximately $10 trillion. Coinbase considers the partnership with Blackrock and Aladdin an “important milestone.” The Aladdin platform is a "network of assets, liabilities, debt and derivative investments", providing a platform for investment management and trading, designed specifically for Blackrock's institutional clients.

Head of Strategic Ecosystem Partnerships at Blackrock Joseph Chalom (Joseph Chalom), noted, that his company's clients gravitate towards digital currencies: 

“Our institutional clients are increasingly interested in entering the digital asset markets and are focused on, to effectively manage the operational life cycle of such assets. Connecting with Aladdin will allow our clients to manage their risk using Bitcoin directly within their existing workflows.".

Following Coinbase and Blackrock Partnership Announcement, Coinbase Global Shares (COIN) grew by more than 16%. Currently, according to Investing.com, they are trading at $88.90 for pike. However, the price of shares of the crypto exchange fell by 72% compared to all-time high.

Previously investment company Ark Invest, led by investor Catherine Wood (Cathie Wood) got rid of more 1,4 million shares of the crypto exchange for a total amount $75 million.