Crypto exchange Bitget is reportedly in talks with BlackRock and other major Wall Street institutions to establish distribution partnerships targeting Asian markets. No deal terms or asset types were disclosed, but the discussions reflect continued efforts by both TradFi and crypto-native firms to build institutional distribution channels in Asia-Pacific ahead of anticipated regulatory clarity in several jurisdictions.
For Armada's crypto-repo desk, a Bitget-BlackRock distribution channel would further institutionalize Asian crypto market flow, potentially generating new counterparty demand for collateralized financing in BTC, ETH, and SOL. Armada should evaluate whether Bitget-affiliated entities or their institutional clients meet counterparty eligibility standards, and legal counsel should review any cross-border custody or AML implications under Fireblocks' operational framework.