BlackRock CEO Larry Fink has expressed his view that cryptocurrencies could play a significant role in increasing financial inclusion worldwide.
In a recent letter to investors, Fink reiterated BlackRock’s commitment to supporting the emerging cryptocurrency industry and revealed that the company is exploring various options for accessing cryptocurrency investments on behalf of its clients.
Fink highlighted the potential for asset tokenization, which could help to streamline capital markets, reduce the involvement of intermediaries, and make it easier for investors to access.
He also pointed to the progress being made in digital payments and financial inclusion in emerging markets such as India, Brazil, and parts of Africa.
BlackRock’s CEO cited the company’s partnership with Coinbase to provide institutional investors with access to bitcoin trading as evidence of the company’s growing interest in the crypto-currency space.
However, Fink also acknowledged the need for regulation in the industry and emphasized that BlackRock would apply the same standards and controls to digital assets as in the rest of its business.
Despite acknowledging the risks associated with the industry, Fink remains optimistic about the future of cryptocurrencies, stating that the industry is maturing and that asset tokenization is a promising trend.
He also dismissed the notion that the collapse of the FTX cryptocurrency exchange signaled the end of the industry, indicating that BlackRock’s interest in the field is only growing stronger.