Blockchain.com Introduces Asset Management Service For Institutional Investors
Blockchain.com – an exchange of cryptocurrency as well as a provider of financial services – is reported to have introduced an asset-management facility for the wealthy consumers thereof. As per Bloomberg, the service is named BCAM which will facilitate high-net-worth persons, family offices, and organizations.
BCAM was originated in partnership with a portfolio manager for futures, Altis Partners, which additionally provides management for investment portfolios with the utilization of blockchain technology. Blockchain.com is the core venue that operates BCAM. The latest facility, which has not yet been declared either by Altis Partners or Blockchain.com, takes its basis from a strategy that keeps the track of BTC’s price in comparison with the USD.
It is additionally developing a unique plan for the investors which targets minimizing BTC investment’s volatility, according to the report. While appearing in an interview, Charlie McGarraugh, the CSO of the company said that the firm is also making a product to manage exposure for the DeFi-based tokens associated with the applications that permit people to trade, lend, and borrow with requiring no intermediary.
The exclusive service’s launch, as McGarraugh mentioned, is an indication that Blockchain.com keeps on doubling down on the organizational business thereof. The debut of BCAM is witnessed just days following the collection of fresh financing on the behalf of Blockchain.com, growing the valuation thereof to $14B (which was previously $5.2B). Lightspeed Venture Partners was leading the funding round in which Baillie Gifford & Co. as well as the other investors also took part.
BCAM merges the most efficient of the old as well as the new crypto markets’ worlds, as disclosed by McGarraugh. In his words, the emergence of crypto assets and distributed ledger technologies can evolve the organization of global markets and financial services while offering brand new chances to investors. He added that they are thrilled to provide their operational and risk management expertise in the respective interesting field to a further wider range of consumers.
2011 was the year when the launch of Blockchain.com took place. At present, the platform is counted to be among the biggest companies related to cryptocurrency across the globe. The venue delivers a series of financial services based on blockchain technology, taking account of its crypto wallets and exchange venue, along with specialized organizational products. The firm has up to 37M verified customers as well as over $1T in cumulative transaction value, according to the website thereof.
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