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Coinbase, BlackRock ink crypto trading partnership targeting institutional clients
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Cryptocurrency exchange Coinbase Global Inc said on Thursday it has partnered with BlackRock, the world's largest asset manager, to provide institutional clients with access to crypto trading and custody services.
The news comes when the industry has been battered in a so-called "crypto winter" as investors dump risky digital assets amid geopolitical turmoil, rising rates, and worries of an impending recession.
Coinbase has been among the worst hit, with shares down over 60% so far this year.
The company's institutional trading platform for crypto assets, Coinbase Prime, will provide crypto trading, custody, prime brokerage, and reporting capabilities to institutional clients on BlackRock's Aladdin, who are also clients of Coinbase.
Read more on moneycontrol.comAbout this in other media
Crypto scam revenue drops 65% in 2022 due to market downturn: Report moneycontrol.com /1 year ago
Another crypto CEO steps down as Genesis Trading restructures leadership cointelegraph.com /1 year ago
U.S. Fed Opens The Door For Crypto Banks To Enter Traditional Banking System investopedia.com /1 year ago
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