The head of BlackRock announced the company's interest in crypto

by in Cryptocurrency News

Larry Fink

Asset manager BlackRock plans to become Circle's primary reserve manager and is also considering expanding into the cryptocurrency market. This was during a teleconference, said the head of the investment giant Larry Fink.

In April, BlackRock participated in a $400 million funding round behind the USD Coin (USDC) Circle. The company became a strategic partner of the stablecoin issuer.

Over the past year, BlackRock has been working with Circle, managing some of its cash reserves, Fink said. The billionaire expects that eventually, his company will become the main manager of these assets.

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Fink also added that BlackRock is looking into the cryptocurrency market as a whole, including digital assets, stablecoins, permissioned blockchains, and tokenization. According to him, clients of the investment giant are increasingly interested in this sector.

In February, the media wrote that BlackRock would add the ability to trade cryptocurrencies to Aladdin's portfolio management system. It was also reported that the company intends to add a lending service secured by digital assets.

Earlier, PayPal co-founder Peter Thiel included Fink in the “list of enemies” of bitcoin.