Blackrock “Studying” How Digital Currencies & Blockchain Could Benefit Clients

In a letter sent to shareholders, the Chairman of Blackrock, Larry Fink discussed how the Ukraine-Russia war may lead to accelerated adoption of “digital currencies”.

Statements made in the letter appear to refer to both privately issued digital assets (e.g. Bitcoin, Ether, etc.) and central bank digital currencies (CBDCs).

A less discussed aspect of the war is its potential impact on accelerating digital currencies. The war will prompt countries to re-evaluate their currency dependencies. Even before the war, several governments were looking to play a more active role in digital currencies and define the regulatory frameworks under which they operate.

Larry Fink, Chairman of Blackrock

With respect to CBDCs, Fink said that:

The US central bank, for example, recently launched a study to examine the potential implications of a US digital dollar. A global digital payment system, thoughtfully designed, can enhance the settlement of international transactions while reducing the risk of money laundering and corruption.

Finally, Fink told shareholders that there has been an increase in interest among its clients in digital currencies. He also added that:

See Also

UAE Plans to Launch CBDC as Part of Drive Toward Cashless Society

BlackRock is studying digital currencies, stablecoins and the underlying technologies to understand how they can help us serve our clients.

Back in January, we reported that Blackrock had filed a registration statement noting their intention to launch an ETF that would track an index of companies involved in the blockchain and crypto industry.