State Street announced a partnership with crypto custodian platform Taurus to offer tokenization and digital custody services to institutional investors.
Partnership for Digital Asset Services
State Street Corp signed a strategic agreement with Taurus SA to offer crypto capabilities for State Street Bank and Trust Company clients. The partnership aims to enhance digital asset capabilities and provide solutions demanded by clients. The agreement adds tokenization and digital custody services to the existing Fund Administration and Accounting capabilities for Digital Assets. "The collaboration with Taurus underscores our ongoing commitment to further establishing ourselves as leaders in this growing asset class, and this important announcement only enhances our ambition to deliver to our clients an amazing digital asset experience," said Donna Milrod, the company's head of Digital Asset Solutions.
State Street Deepens Crypto Initiatives
State Street recently revealed plans to explore launching its own stablecoin and deposit token to enhance blockchain-based payment solutions. The company has been gradually expanding its offerings and incorporating crypto assets into its operations. The third largest ETF manager offers fund administration and accounting to crypto ETFs. The company recently signed an agreement with Galaxy Asset Management to launch crypto ETFs, strengthening its presence in the burgeoning industry.
Conclusion
State Street continues to develop its digital asset offerings, partnering with Taurus and exploring new opportunities in the digital asset market. The partnership with Taurus will enable the company to offer innovative solutions and improve the services provided to clients.
The partnership between State Street and Taurus is an important step in expanding digital asset capabilities and strengthening the company's position in this rapidly growing field.
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