American International investment firm BlackRock is preparing to offer cryptocurrency trading and lending services to its clients.
Source: Cryptobriefing
BTCUSD is down -0.65%
The offering is expected to be done through the firm’s asset, debt, liability, and derivative investment network. Clients would use crypto as collateral in accessing credit if the plan sails through.
The company is also planning to launch an ETF that tracks blockchain companies as per its January filings with the Securities and Exchange Commission.
Sources reveal that 20 BlackRock staff members are looking into investing in cryptocurrencies, citing attractive returns.
The investment firm has been making inroads into the cryptocurrency space. It posted a job advert in 2020 for a blockchain executive. BlackRock also began searching for a blockchain strategy lead last year.
BlackRock is the biggest asset manager globally, with over $10 AUM from institutional clients. Pension schemes and sovereign wealth funds are some of BlackRock’s clients.
Comments