State Street, the world’s second largest custody bank with $51.7 trillion in assets under custody, has launched its Digital Asset Platform. The solution forms the basis for activities involving tokenized Money Market Funds (MMFs), ETFs, tokenized assets and cash products such as tokenized deposits and stablecoins.
In the second half of 2024 it partnered with Taurus for digital asset custody and tokenization technology. Hence, the platform supports wallet management, custody and cash and works with a variety of public and permissioned blockchains.
“By pairing blockchain connectivity with robust controls and global servicing expertise, we’re enabling institutions to confidently embrace tokenization as part of their core strategy with an organization like us that they can trust,” said Joerg Ambrosius, president of Investment Services at State Street.
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