Cryptocurrency exchange Coinbase and management company BlackRock have agreed to cooperate. Clients of the latter will have direct access to digital asset trading through a portfolio management system. Aladdin.

We are proud to announce our partnership with @Black Rock. BlackRock’s Aladdin customers will now have direct access to crypto markets through Coinbase Prime.

Read more 👇https://t.co/LA3XeYYbvs

— Coinbase (@coinbase) August 4, 2022

Joseph Chalom, Global Head of Strategic Ecosystem Partnerships at BlackRock, noted the growing customer interest. As part of the partnership, they will also have the ability to store cryptocurrencies as part of an investment portfolio and manage the risks associated with them.

Companies will continue to improve Coinbase Prime’s integration with Aladdin. The functionality will be rolled out in stages.

Shares of the Bitcoin exchange reacted positively to the news. At the time of writing, bids have increased by 16.3%. The opening took place with a margin of 32.3%. Trading was suspended after reaching the 35% growth threshold.

Recall that BlackRock plans to add the ability to trade cryptocurrencies to its Aladdin portfolio management system, it became known in February 2022. At the time, there were reports about the potential integration of a lending service secured by digital assets.

In April 2022, the CEO of management company Larry Fink announced the possibility of expansion in the cryptocurrency market. Nine months ago, it registered minimal customer interest in digital assets.

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