Asset management firm BlackRock plans to offer cryptocurrency trading

BlackRock, the world’s largest asset manager, is planning to let its clients trade cryptocurrencies through the company’s Aladdin investment platform, one of the sources said. The New York-based firm, which manages more than $10 trillion in assets for institutions, plans to enter the cryptocurrency space with "customer-supported transactions and then through their own credit services," one of the people said. In other words, customers will be able to borrow against BlackRock with crypto assets as collateral. BlackRock will allow its clients -- including public pension plans, endowments and sovereign wealth funds -- to invest in assets, liabilities, debt and derivatives through the asset manager's integrated investment management platform, Aladdin, one of the people said. "Network" for short) to trade cryptocurrencies. It's unclear when the service will be announced.