BlackRock May Follow Coinbase Playbook with Blockchain Launch
CryptoNewsTerminal Staff12 Aug, 2024
BlackRock May Follow Coinbase Playbook with Blockchain Launch
BlackRock, the world's largest asset manager, is reportedly exploring the launch of its own blockchain, according to crypto data platform Token Terminal. This move would follow a similar strategy to that of Coinbase, which launched its own blockchain in 2018. Token Terminal believes that BlackRock is likely interested in launching a blockchain in order to create a globally interoperable and transparent ledger. This would allow BlackRock to better serve its clients globally and to tokenize all major cryptocurrencies. BlackRock has previously expressed interest in Bitcoin (BTC) due to its global accessibility, efficiency for cross-border transactions, and fixed supply. The firm is also likely to tokenize other major cryptocurrencies such as Ethereum (ETH) and Solana (SOL). Should BlackRock launch its own blockchain, it would be a significant development for the cryptocurrency industry. It would indicate that major financial institutions are increasingly recognizing the potential of blockchain technology.
