According to Bloomberg, Blockchain.com, which raised a new round of funding led by Lightspeed Venture Partners last week with participation from Edinburgh-based Baillie Gifford, valuing the company at $14 billion, has launched an asset-management brand.
The BCAM service will be available to institutional investors, family offices, and high-net-worth individuals. It was developed with Altis Partners, a futures portfolio management firm.
BCAM's strategy follows the price of Bitcoin in relation to the US dollar. Another technique it's launching is to reduce the volatility of Bitcoin investments by providing "algorithm-based risk-managed exposure" to the currency.
According to Charlie McGarraugh, the company's chief strategy officer, "Blockchain.com is also working on a solution that manages exposure to decentralized-finance coins coupled to applications that let users trade, borrow, and lend without intermediaries."
Blockchain.com is doubling down on its institutional business with the new service launch, McGarraugh continued.
Following its purchase of Altonomy's over-the-counter trading and executions business in March, Blockchain.com has thousands of institutional clients, about $8 billion in loan originations, and $15 billion in lifetime trading volume related to institutions, mentioned McGarraugh.
Photo via Pixabay
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
