The Blackrock-Coinbase Deal Sounds Like A Game Changer For Crypto Trading

Coinbase has been working on its own stablecoin, called Coinbase US Dollar (CUSD). The company has announced that it will launch this new asset on June 22, followed by a token sale that will allow investors to buy CUSD.

The intended offering is a $10 million one-time investment in exchange for a 1 percent stake in Bitcoin and Ethereum. But according to Bloomberg, Blackrock is offering $100 million worth of shares at an even higher rate: a 4% stake in these two cryptocurrencies and their underlying blockchain technology.

Tally's co-founder and CEO, Raj Fernando, told Bloomberg that his company has been interested in crypto assets since their inception, but doesn't want to invest directly continue on them until now because we want to make sure we're doing it right.

Blackrock isn't the only one looking for stablecoins. Santander recently launched its own digital asset called Santander Coin, which is backed by cash reserves held by the bank's customer accounts. It is aiming for wider adoption than offers from Tally or Coinbase, which have so far been unsuccessful.

Coinbase told Bloomberg it is also developing its own stablecoin – one a cryptocurrency backed by the US dollar called Coinbase Pro Tether USD but there is no