According to the Chairman and CEO of BlackRock Larry Fink, the war in Ukraine could accelerate digital currencies.
Larry Fink, the Chairman and CEO of investment giant BlackRock, said that the war in Ukraine has the potential to accelerate digital currencies.on Thursday, Fink highlighted the implications of the Russian invasion of Ukraine for companies, countries and clients, also addressing the impact on energy sources.
“The war will prompt countries to re-evaluate their currency dependencies,” Fink said, adding that some were already looking to play a more active role in digital currencies even before the start of the war. As an example, he pointed“A global digital payment system, thoughtfully designed, can enhance the settlement of international transactions while reducing the risk of money laundering and corruption," as well as bring down cross-border transaction costs, Fink said.
"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," he went on to write.
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