Coinbase Stock Soars as Crypto Exchange Forms Partnership With BlackRock

BlackRock is partnering with Coinbase Global to offer Bitcoin trading services to institutional clients, representing a push into cryptocurrencies for the world’s largest asset manager and a ringing endorsement for the embattled crypto exchange.

Institutional investors who use BlackRock Aladdin investment management platform and are clients of Coinbase will now be able to directly access crypto trading, prime brokerage, and custody services through Coinbase’s institutional arm, Prime. The digital asset trading tie-up will initially be limited to Bitcoin.

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