Today State Street announced plans to add tokenization capabilities to its fund servicing offering, starting with State Street Investment Services in Luxembourg at the end of the year, subject to regulatory approvals and operational readiness. This will include fund administration, custody and transfer agency services with the anchor client being State Street Investment Management. State Street is the world’s second largest global custodian with US$54.5 trillion in assets under custody.
“Being an early adopter of tokenization allows us to upgrade our operating model and deliver an innovative client experience while preserving the investment discipline, risk controls, and investor protections that are fundamental to State Street Investment Management,” said Kim Hochfeld, global head of Cash and Digital Assets at State Street Investment Management.
Four months ago State Street Investment Management announced plans to launch SWEEP, the State Street Galaxy Onchain Liquidity Sweep Fund for qualified purchasers. We’ve requested confirmation on a launch timeline, as we don’t believe it is live yet.
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