BlackRock CEO: BlackRock will continue to explore permissioned blockchains and tokenization of stocks and bonds

BlackRock CEO Larry Fink reiterated his views on digital assets in his annual letter to BlackRock shareholders. Fink said, “Very interesting developments are happening in the digital asset space. In many emerging markets such as India, Brazil and parts of Africa, we are witnessing huge advances in digital payments, reducing costs and advancing financial inclusion. In contrast, including Many developed markets, including the U.S., lag behind in innovation, resulting in far higher payment costs.” Additionally, Fink stated, “For the asset management industry, we believe the operational potential of some of the underlying technologies in the digital asset space may have exciting applications .BlackRock will continue to explore the digital asset ecosystem, particularly those areas that are most relevant to our clients, such as permissioned blockchains and the tokenization of stocks and bonds. While the industry is maturing, the risks and regulatory implications of this market There has been a clear increase in demand. BlackRock plans to apply the same standards and controls to digital assets that we do across the business.”