BlackRock is the largest asset manager in the world, with over $13.4 trillion in assets under management, and operates the largest tokenized cash market fund, worth $2.8 billion.
Former crypto skeptic BlackRock CEO Larry Fink and chief operating officer Rob Goldstein say tokenization will act as a bridge between the crypto industry and traditional finance, doubling down on their support of the sector.
In an opinion article penned by Fink and Goldstein and published Monday in The Economist, the pair said that tokenization won’t replace the existing financial system any time soon, but predict it will help merge the two industries.
“Think of it instead as a bridge being built from both sides of a river, converging in the middle. On one side stand traditional institutions. On the other are digital-first innovators: stablecoin issuers, fintech’s and public blockchains,” the pair wrote.
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