According to reliable sources, the leading New York-based asset management firm with over $10 trillion in assets under management would provide cryptocurrency services to its investment clients. One of the key services accessible to investment clients will be the availability of loan facilities from the management firm using cryptocurrencies and derivative assets as collateral.
According to some sources, BlackRock clients will be able to trade cryptocurrencies seamlessly via the Asset, Liability, Debt, and Derivative Investment Network- ALADDIN. Every client, from public pension schemes to endowments, will have access to ALADDIN, BlackRock’s integrated investment management platform. It is hard to predict when this feature will be released.
The well-known asset management firm has declined to comment.
BlackRock is hardly the only reputable financial institution venturing into cryptocurrency. Citi, Morgan Stanley, and Goldman Sachs have also begun their voyage into the crypto space. KPMG Canada recently announced the integration of Ethereum and Bitcoin into its balance sheet.