One of the largest names in the Bitcoin space, Blockchain, has announced a platform to help institutional investors get exposure to cryptocurrency. Blockchain Principal Strategies can be accessed from today and there are plans to launch additional products and services throughout the summers months.
Blockchain Becomes Latest Company Trying to Lure Institutional Money into CryptoIn a blog post published earlier today, Blockchain announced the launch of Blockchain Principal Strategies (BPS). The statement read:
“BPS provides institutions, family offices, and individual investors unparalleled and tailored access to markets, research, and services on the most trusted digital asset platform worldwide.”
The platform will provide access to an over-the-counter (OTC) trading desk which will allow large buy and sell orders to be performed without affecting the wider market. The team behind the desk will be comprised of professional money managers from a range of traditional financial institutions. These include Cooley, Goldman Sachs, JPMorgan, and UBS. Together, the team will provide the kind of ‘white-glove’ service that institutions are accustomed to when making sizeable investments.
In addition to the actual buying and selling of crypto assets, the BPS will give exclusive market insights to its clients. These will be provided by leading digital currency economist, Garrick Hileman. Hileman, an economic historian from the London School of Economics and long-time proponent of cryptocurrency, recently spoke of the virtues of Bitcoin when buying expensive items such as art, real estate, and vehicles.
The blog post published earlier today also mentions that users will have early access to initial coin offerings (ICOs), as well as direct investments into various companies associated with the ever-growing digital currency space.
The CEO and co-founder of Blockchain, Peter Smith, stated the following about the launch of the BPS:
“We are thrilled to debut Blockchain Principal Strategies, an institutional grade platform customised for institutions, family offices, and individual investors… BPS provides clients the opportunity to invest in digital assets with the same peace of mind and security that has become synonymous with the Blockchain name.”
The platform was originally launched in 2011 by Nicolas Cary and Peter Smith. The Luxembourg-based company provides information about the Bitcoin blockchain and wider economy, along with resources for developers. The firm’s original website, blockchain.info was the most visited cryptocurrency-related website in 2013. However, the company has recently changed domains. They can now be found at Blockchain.com.
This move to appeal to institutional investors is the latest such effort from players within the cryptocurrency industry. Earlier this year, NewsBTC reported on Coinbase launching their own platform tailored to the much lauded investor class. Circle have also created a service known as ‘CircleTrade’ that is designed to provide a secure and simple entry point for institutions wishing to gain exposure to cryptocurrency.
It is believed by some analysts that the lack of suitable infrastructure is one of the largest obstacles stopping institutions taking up positions in cryptocurrency at present. Such moves by Blockchain and others are a clear effort to change this.
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