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BlackRock is considering crypto services for clients amid rising demand, CEO says

BlackRock is the world’s largest asset manager with over $10 trillion in assets under management.

BlackRock CEO Larry Fink says the investment giant is indeed looking at what’s possible with regard to offering digital asset services and investments to its clients.

As we see increasing interest from our clients, BlackRock is studying digital currencies, stablecoins and the underlying technologies to understand how they can help us serve our clients,” Fink said in a letter published on Thursday.

He also touched on the benefits of digital currencies and digital currency payment systems amid increased exploration in this area by companies and governments.

A global digital payment system, thoughtfully designed, can enhance the settlement of international transactions while reducing the risk of money laundering and corruption“, the BlackRock chief added.

According to him, the use of digital currencies has the potential to cut costs associated with cross-border payments. He mentioned the example of how this can greatly help expatriate workers looking to send money to families across the globe.

‘We serve our clients’

BlackRock has over $10 trillion in assets under management, and Fink said that the firm only manages the money on behalf of its clients.

The money we manage belongs to our clients. And to serve them, we work to understand how changes around the world will impact their investment outcomes,” he told shareholders.

The comments related to the Russia-Ukraine war, which Fink said had ended the globalisation seen over the past 30 years or so.

But while he still believes in the concept and benefits of globalisation, including global capital markets, Fink is convinced things have changed as a result of the war. The reaction of companies and governments and what could happen next will have far-reaching ramifications, he added. 

According to him, the war adds to the impact of the global pandemic and their impact “will reverberate for decades to come in ways we can’t yet predict.”

The post BlackRock is considering crypto services for clients amid rising demand, CEO says appeared first on Coin Journal.