BlackRock, the major asset management firm, is deploying a Verizon Business On Site 5G private network at its new global headquarters in New York City, the companies said Tuesday during Mobile World Congress. The deal -- the first commercial implementation of Verizon's On Site 5G offering -- showcases how private 5G networks can be used in lieu of Wi-Fi at facilities that require secure, fast networks.
Verizon launched On Site 5G in June to bring private 5G networks to enterprise and public sector facilities. The service brings Verizon's 5G Ultra Wideband capabilities to indoor and outdoor locations, regardless of whether they're within a public 5G Ultra Wideband coverage area.
The private networks are non-standalone, meaning they combine 5G Ultra Wideband small cells with the LTE packet core and radios of On Site LTE. With a non-standalone network, customers can leverage both 5G Ultra-Wideband and 4G LTE capabilities.
At BlackRock's new Hudson Yards facility, the network will be used on the trading floor, the client-facing conference center, meeting rooms and other areas that will benefit from high speed and low latency.
Verizon has been aggressively expanding its 5G Ultra Wideband network, which uses a high-band, ultra-wide millimeter wave spectrum to deliver high-speed 5G. That's different from Verizon's "5G Nationwide" network, which leverages 5G and 4G. (Read more about the different "flavors" of 5G here).
After spending an eye-popping $52 billion last year for the C-band spectrum spanning the US, Verizon has used it to bring 5G Ultra Wideband mobility service to parts of more than 1,700 cities around the US so far.
Verizon's larger 5G strategy melds 5G with edge computing, and it involves creating an ecosystem with tech giants like AWS and Microsoft Azure.