- 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.
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