BlackRock is expanding its digital asset capabilities, adding four high-level roles as it navigates the growing world of cryptocurrencies and digital assets.
BlackRock has significantly expanded its digital asset team, adding four high-level roles as the company continues to navigate the growing world of cryptocurrencies and digital assets.
Cryptocurrencies are digital or virtual currencies that use cryptography for secure financial transactions.
They operate independently of central banks and governments, relying on decentralized technology.
The first cryptocurrency, Bitcoin, was introduced in 2009 by an anonymous individual using the pseudonym Satoshi Nakamoto.
Today, there are over 5,000 cryptocurrencies in existence, with varying levels of adoption and acceptance.
The expansion is part of BlackRock’s efforts to scale up its digital assets capabilities and provide better services to its clients. The new hires bring extensive experience in the industry, with backgrounds from top financial institutions such as JP Morgan, UBS, and Merrill Lynch.
BlackRock is a global investment management company that was founded in 1988.
It has grown to become the largest asset manager in the world, with over $9 trillion in assets under management as of 2022.
The company offers a range of investment products and services to institutional and individual investors, including exchange-traded funds (ETFs), index funds, and actively managed mutual funds.
BlackRock's success is attributed to its innovative approach to investing and its ability to adapt to changing market conditions.
BlackRock has also formed key partnerships and collaborations to enhance its digital asset offerings. For example, the company has partnered with BNY to administer its new Bitcoin-backed ETP in Europe, while Coinbase serves as the custodian for the underlying Bitcoin.
Another notable partnership is with Standard Chartered, which has signed a memorandum of understanding (MoU) to join SIX Digital Exchange. This move aims to expand digital asset capabilities and enhance client access to Switzerland’s digital securities market.
Standard Chartered is a British multinational banking and financial services company.
Founded in 1853, it has operations in over 70 countries across Asia, Africa, and the Middle East.
The bank provides a range of financial services including corporate and institutional banking, personal banking, and wealth management.
Standard Chartered has a significant presence in emerging markets and is known for its expertise in trade finance and cash management.
In recent weeks, regulatory developments have been significant in the digital assets space. ‘Australia has unveiled plans for crypto regulation, focusing on custody and stablecoins,’ while the European Commission has detailed a strategy for the Savings and Investments Union.
Additionally, BNP Paribas has enhanced its NeoLink reporting platform to streamline data management and regulatory compliance.
There have been several notable people moves in recent weeks. For example, former ‘former BlackRock MD’ has joined Apex Group’s senior leadership team, bringing over 30 years of industry experience to the role.
Former ‘State Street exec’ has also been named as EquiLend’s new chief product officer, while Northern Trust will manage the digital lifecycle of Bayer‘s carbon credits.
The ‘Global Custodian’ has revealed shortlists for its Leaders in Custody 2025 awards, which will be held on May 15 at The Savoy, London.
- coindesk.com | BlackRock Expands Digital Asset Team, Adds Four High Level Roles
- globalcustodian.com | Global Custodian
