Blockchain.com, a cryptocurrency exchange and financial services company, is said to have established an asset management service for its rich clients.
BCAM is the name of the service, which will be available to institutions, family offices, and high-net-worth individuals. BCAM was established in partnership with Altis Partners, a futures portfolio manager which also manages investment portfolios utilising blockchain technology. BCAM is powered by Blockchain.com, which is the underlying platform. The new service is based on a strategy that tracks the price of Bitcoin versus the US dollar and has yet to be publicly launched by either Blockchain.com or Altis Partners. According to the report, it’s also working on a new technique for investors called “algorithm-based risk-managed exposure,” which aims to lower the volatility of Bitcoin investments.
During an interview, the company’s chief strategy officer, Charlie McGarraugh, reportedly stated that the company is also working on a product that controls exposure to decentralized-finance currencies linked to apps that allow users to trade, borrow, and lend without the use of a middleman. According to McGarraugh, the launch of the new service shows that Blockchain.com is continuing to invest in its institutional business.
BCAM’s debut comes only days after Blockchain.com announced a new round of funding, bringing its total valuation to $14 billion, up from $5.2 billion. Lightspeed Venture Partners led the round, with Baillie Gifford & Co. and additional investors joining in.
Blockchain.com, which was founded in 2011, is currently one of the largest cryptocurrency companies in the world, offering a wide range of blockchain-based financial services, including an exchange platform, crypto wallets, and specialist institutional solutions. According to its website, it has 37 million verified users and a total transaction value of more than $1 trillion.
Let us see whether this asset management service keeps their investors happy or not.
Read more: Blockchain.com allows NFT usernames for wallets
