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State Street Bank, With $40T In Assets, Opens A New Branch To Bet On Digital Finance
Summary: State Street, the Boston-based custodian bank has established a new digital department--State Street Digital--to provide digital assets and crypto services in the context of growing customer demand. The new department will expand to include cryptocurrency, central bank digital currency, blockchain, and tokenization. According to the Financial Times, Nadine Chakar, head of State Street Digital, said that ...
State Street, the Boston-based custodian bank has established a new digital department--State Street Digital--to provide digital assets and crypto services in the context of growing customer demand.
The new department will expand to include cryptocurrency, central bank digital currency, blockchain, and tokenization.
According to the Financial Times, Nadine Chakar, head of State Street Digital, said that its customers have increased their exposure to cryptocurrency by 300% in the past two to three months. Cryptocurrencies are at a tipping point and they will provide as many crypto services as possible in accordance with existing regulations.
As of the end of March, State Street Bank had $40.3 trillion in custody or managed funds and $3.6 trillion in self-managed funds.
By Mary Liu
Tags: Cryptocurrency,Digital Finance,State Street
Link: State Street Bank, With $40T In Assets, Opens A New Branch To Bet On Digital Finance [Copy]
