Blockchain.com, a cryptocurrency exchange, and financial services firm, has reportedly launched an asset management service for its wealthy clients.
As per Bloomberg, the service is known as BCAM and will serve institutions, family offices, and high net worth individuals. BCAM was founded in collaboration with Altis Partners, a futures portfolio chief that likewise oversees investment portfolios utilizing blockchain technology. Blockchain.com is the underlying platform that powers BCAM.
The new service, which has yet to be officially announced by either Blockchain.com or Altis Partners, is based on a strategy that tracks the price of Bitcoin (BTC) versus the U.S. dollar. It’s also developing another methodology for investors, called “algorithm-based risk-managed exposure,” which aims to reduce the volatility of Bitcoin investment, according to the report.
During a meeting, Charlie McGarraugh, the organization’s chief strategy officer, supposedly said the firm is also developing a product that manages exposure to decentralized-finance coins linked to applications that let people trade, get, and loan without an intermediary. The launch of the new service, McGarraugh said, is a sign that Blockchain.com keeps on multiplying on its institutional business.