Tokenization has the potential to increase efficiency in capital markets. About this in a letter to shareholders declared BlackRock CEO Larry Fink.
The expert noted that thanks to technology in the asset management industry, “exciting applications” can be created.
“Tokenization of asset classes offers the prospect of improving efficiency in capital markets, shortening value chains and improving costs and access for investors”Fink explained.
BlackRock CEO promised that the company will continue to explore the digital asset ecosystem, “especially the areas most relevant to our clients, such as private blockchains, and stock and bond tokenization.”
Fink added that the organization will not be in a rush to bring new products to market.
“There are increased risks in the market and the need for regulation. BlackRock is committed to operational excellence. We plan to apply the same standards and controls to digital assets as we do to the business as a whole.” he explained.
In addition to the prospects for tokenization, Fink also mentioned advances in digital payments as a topic of interest.
“In many emerging markets, such as India, Brazil and parts of Africa, we are seeing significant progress in digital payments, reducing costs and expanding access to financial services,” Fink pointed out.
The top manager noted that developments in these regions contrast with the sluggish dynamics in developed markets. According to him, the latter, including the United States, “lag behind in innovation, as a result, the cost of payments is much higher.”
Recall that in April 2022, Fink said that BlackRock is studying digital assets, stablecoins, permissioned blockchains and tokenization. According to him, clients of the investment giant are increasingly interested in this sector.
Media outlets have previously reported that BlackRock will add the ability to trade cryptocurrencies to Aladdin’s portfolio management system. It was also reported about the company’s intention to integrate a lending service secured by digital assets.
At the end of 2022, a BlackRock-managed fund of funds invested $24 million in the FTX bitcoin exchange going through bankruptcy.
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Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
Tokenization has the potential to increase efficiency in capital markets. About this in a letter to shareholders declared BlackRock CEO Larry Fink.
The expert noted that thanks to technology in the asset management industry, “exciting applications” can be created.
“Tokenization of asset classes offers the prospect of improving efficiency in capital markets, shortening value chains and improving costs and access for investors”Fink explained.
BlackRock CEO promised that the company will continue to explore the digital asset ecosystem, “especially the areas most relevant to our clients, such as private blockchains, and stock and bond tokenization.”
Fink added that the organization will not be in a rush to bring new products to market.
“There are increased risks in the market and the need for regulation. BlackRock is committed to operational excellence. We plan to apply the same standards and controls to digital assets as we do to the business as a whole.” he explained.
In addition to the prospects for tokenization, Fink also mentioned advances in digital payments as a topic of interest.
“In many emerging markets, such as India, Brazil and parts of Africa, we are seeing significant progress in digital payments, reducing costs and expanding access to financial services,” Fink pointed out.
The top manager noted that developments in these regions contrast with the sluggish dynamics in developed markets. According to him, the latter, including the United States, “lag behind in innovation, as a result, the cost of payments is much higher.”
Recall that in April 2022, Fink said that BlackRock is studying digital assets, stablecoins, permissioned blockchains and tokenization. According to him, clients of the investment giant are increasingly interested in this sector.
Media outlets have previously reported that BlackRock will add the ability to trade cryptocurrencies to Aladdin’s portfolio management system. It was also reported about the company’s intention to integrate a lending service secured by digital assets.
At the end of 2022, a BlackRock-managed fund of funds invested $24 million in the FTX bitcoin exchange going through bankruptcy.
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Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
