- BlackRock Inc BLK CEO Larry Fink saw the Russia-Ukraine war accelerating digital currencies as a tool to settle international transactions, Reuters reports.
- Fink believed that the war could force the countries to reassess currency dependences by marking an end to the globalization forces at work over the past 30 years.
- BlackRock studied digital currencies and stablecoins due to increased client interest.
- A thoughtfully charted global digital payment system could improve international transaction settlement while reducing the risk of money laundering and corruption.
- BlackRock's total client exposure to Russia declined to less than $1 billion earlier March from $18 billion before Moscow invaded Ukraine, Reuters noted.
- Fink saw countless stakeholders exploring steps to prevent capital from being deployed to Russia.
- Price Action: BLK shares closed lower by 1.33% at $736.95 on Wednesday.
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
