Crypto wallet startup Blockchain has unveiled a new service platform focused squarely on the institutional market.
Blockchain Principal Strategies (BPS) aims to provide investors and institutions with "unparalleled and tailored access to markets, research and services on the most trusted digital asset platform worldwide," the company said in a blog post.
The new platform seeks to help investors gain exposure to crypto assets using an over-the-counter (OTC) trading desk. The trading desk, Blockchain says, features a "best-in-class matchmaker and direct counterparty to clients, executing trades and managing associated risk," according to the post.
BPS also offers trading "across major currencies and digital asset pairs," though it is unclear which specific trading pairs it is offering at this time. The company will also roll out additional products later this summer.
Blockchain chief executive and co-founder Peter Smith said in a statement that "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."
"Launching BPS is the first step in our longer-term strategy to execute on that vision. In addition to the BPS platform itself, we will also offer educational and networking opportunities with hopes of creating a broader, well-informed community around digital currencies moving forward," Breanne Madigan, the company's head of institutional sales and strategy, said in a statement.
Business miniatures image via Shutterstock
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.