By
Bhushan Akolkar
April 12th, 2024
This institutional platform will provide its customers an easy exposure to the cryptocurrency market with their products and services while ensuring security.
UK-based popular cryptocurrency startup blockchain.com announced the launch of its first institutional platform Blockchain Principal Strategies (BPS) in an official blog post on Thursday, June 28. While commenting on the launch of BPS, Peter Smith, CEO and Co-Founder of Blockchain said:
“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.”
While highlighting the services of the BPS institutional trading platform, the blog post mentions:
“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.”
This new platform will allow high-net individuals and other big players to venture into the crypto space by providing facilities like over-the-counter (OTC) trading. The OTC trading pattern allows to execute large trading orders, buy or sell, to be executed without having any significant volatility in the price of the digital currency. The BPS institutional trading desk will be managed by professional managers coming from top-notch financial institutions like Goldman Sachs, Cooley, JP Morgan and UBS. The team will be providing ‘white-glove’ services to which the institutional investors and firms are accustomed.
The blog post further goes to mention that the BPS trading platform aims to provide big institutions and investors with “unparalleled and tailored access to markets, research and services on the most trusted digital asset platform worldwide.” It also mentions that the BPS trading desk features a “best-in-class matchmaker and direct counterparty to clients, executing trades and managing associated risk.”
The institutional trading platform will offer to trade “across major currencies and digital asset pairs,” but remains unclear at the moment regarding which trading pairs it would offer. Apart from the institutional trading platform, Blockchain.com also plans to introduce more products by this summer.
In a statement, Breanne Madigan, the company’s head of institutional sales and strategy, said:
“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.”
Previously popular as Blockchain.info, the company has recently changed its URL to Blockchian.com. It tweets:
https://t.co/pY6wnVw4rm has moved 🚚. You may have noticed that all of https://t.co/dBBBPCXMaj’s URLs have now been redirected to https://t.co/7sSWNpmzjX, but don’t worry, this isn’t goodbye to .info forever, it’s just see you elsewhere!
— Blockchain.com (@blockchain) June 28, 2018
It looks like a lot of cryptocurrency exchanges from around the globe are now gearing towards launching services that cater to the institutional space. Just last month in May 2018, world’s largest cryptocurrency exchange Coinbase announced its four new products and services dedicated towards institutional investors. Another Goldman Sachs-backed crypto exchange Circle has also developed a service called ‘CircleTrade’ that wishes to provide easy entry for institutions willing to join the crypto space.
There is a lot of buzz in the cryptocurrency market that big institutions are preparing themselves to pour heavy money in the crypto space but are currently waiting for more regulatory clarity to emerge in this direction.