Larry Fink: "BlackRock will continue to support the crypto industry"

The CEO of BlackRock, the largest asset management company, Larry Fink expressed the opinion that cryptocurrencies can increase financial inclusion for everyone.

In another letter to investors, Larry Fink emphasized that BlackRock will continue to support the emerging cryptocurrency industry. In addition, the company is considering various options for accessing cryptocurrency investments for its clients.

“We believe that some technologies in the digital asset space may have interesting applications. For example, asset tokenization could make capital markets much more efficient, shorten the chains of intermediaries, and make it easier for investors to access. In many emerging markets, notably India, Brazil and parts of Africa, we are seeing significant progress in digital payments, cost reduction and financial inclusion. In many developed markets, including the US, there is a noticeable backlog in innovation, resulting in significantly higher payment costs,” said BlackRock CEO.

Fink recalled that last year the company entered into a partnership with Coinbase to provide access to bitcoin trading to institutional investors. According to him, this is just the beginning, and the BlackRock team continues to explore and dive into the crypto-currency field.

“The cryptocurrency industry is definitely maturing. But there are still significant risks and the need for regulation. Therefore, we plan to apply the same standards and controls to digital assets as in the rest of our business,” said Larry Fink.

In December, Fink said that the collapse of the FTX cryptocurrency exchange does not put an end to the entire industry and the direction of asset tokenization.