BlackRock explores offering crypto services as client interest rises, Larry Fink says

BlackRock (NYSE:BLK) CEO Larry Fink said Thursday that his company is looking into offering cryptocurrency services as client interest rises, according to a letter he wrote to shareholders. "As we see increasing interest from our clients, BlackRock is studying digital currencies, stablecoins and the underlying technologies to understand how they can help us serve our clients," Fink highlighted. A global digital payment system could enhance the settlement of foreign transactions while reducing risks such as money laundering, Fink explained. Cryptos can also help bring down cross-border payment costs, he added. On the flip side, Thailand's Securities and Exchange Commission on Wednesday blocked the use of digital assets as a means of payment, citing risks involving price volatility, cyber theft and being used as a tool for money laundering. Regarding the implications of Russia's invasion of Ukraine, Fink said that the war "will prompt countries to re-evaluate their currency dependencies." In