BlackRock’s Vision Aligns with Kore’s Mission: Infrastructure for the Private Capital Markets

By Oscar A Jofre

Larry Fink’s 2025 Chairman’s Letter presents a powerful and clear vision: the democratization of investing through broader access to private markets, technological innovation, and financial inclusion. As the world’s largest asset manager embraces private markets, tokenization, and digital identity, it serves as a strong validation of the work we at Kore have been leading for years.

The Validation of Kore’s Mission

For over a decade, Kore has been building the compliant infrastructure for private capital markets—focused on enabling companies to raise capital, investors to access private opportunities, and regulators to ensure transparency. Now, BlackRock is stating clearly: the future of investing lies in bridging the gap between public and private markets. This is a direct validation of Kore’s foundational thesis.

BlackRock’s push into private infrastructure and credit, through acquisitions like GIP and HPS, confirms that the next wave of capital formation will occur outside the public markets. And as BlackRock acknowledges, the current systems are not built for that—they’re fragmented, opaque, and inaccessible to everyday investors.

That’s exactly the challenge Kore was built to solve.

Tokenization as a Catalyst — Where KoreChain Leads

Fink calls tokenization a revolution comparable to email replacing the postal system—and rightly so. Tokenization streamlines capital movement, removes intermediaries, and allows fractional ownership of previously inaccessible assets.

At Kore, we’ve already built that future:

• KoreChain, our purpose-built blockchain, is the first blockchain qualified by both the SEC and FINRA.
• It supports digital securities (not cryptocurrencies) and enables fully compliant tokenized offerings under ReCF, RegA+, and RegD.
• With KoreChain, private companies can raise capital, manage shareholders, and provide secondary liquidity—on one platform, with compliance built in from the ground up.

Tokenization without compliance is meaningless. KoreChain embeds jurisdictional rules, investor protections, and audit trails natively—ensuring trust and legal certainty.

KoreID: The Answer to Identity in the Digital Age

Larry Fink calls out identity verification as the “critical problem” that must be solved before tokenized assets can scale. At Kore, we’ve solved it with KoreID.

KoreID provides:

• Single, reusable identity for investors across offerings and jurisdictions
• Real-time KYC/AML verification
• Embedded compliance and access controls at the transaction level

KoreID enables issuers, platforms, and regulators to trust the identity layer—critical for both capital formation and investor protection in private markets. As BlackRock envisions tokenized funds becoming as familiar as ETFs, KoreID ensures those transactions can actually take place—securely, compliantly, and globally.

Expanding Participation: Democratizing Access to Private Markets

BlackRock’s emphasis on fractionalization, lower barriers, and retirement accessibility aligns perfectly with Kore’s work to open RegCF, RegA+, and RegD offerings to a broader audience.

With Kore’s platform:

• Retail investors can access private offerings in a compliant, affordable, and transparent way
• Small businesses can raise capital without the burden of going public
• Secondary market trading can occur on ATSs (Alternative Trading Systems) that connect private and public capital efficiently

This is capital markets for everyone, not just institutions. BlackRock is beginning to move in this direction—but Kore has already built the road.

The Flywheel Is Spinning

Larry Fink writes that capital markets are a “prosperity flywheel”—and that flywheel spins faster when more people can participate. Kore is the infrastructure that makes that possible for the private side of the market—with:

• KoreChain: blockchain built for compliant capital markets
• KoreID: the digital passport for verified investors
• Kore platform: end-to-end support from offering to secondary trading

BlackRock’s embrace of private markets and tokenization is a major moment. But we believe the future of capital formation isn’t just about access—it’s about trust, compliance, distribution, and infrastructure. That’s where Kore leads.

Link to Larry Fink Annual letter:  https://www.blackrock.com/corporate/investor-relations/larry-fink-annual-chairmans-letter