Cryptocurrency exchange Coinbase and management company BlackRock have entered into an association. As part of the agreement, BlackRock users will have direct access to digital asset trading through the Aladdin portfolio management system.
As part of the partnership, they will also have the ability to store cryptocurrencies and manage the risks associated with them as part of an investment portfolio.
The companies will continue to develop the integration of Coinbase Prime with Aladdin. The functionality will be launched in stages.
The shares of the crypto exchange have reacted positively to the news, increasing by about 16% over the past 24 hours.