Important points
- State Street is expanding into digital assets with a suite of new tokenized products, including money market funds, ETFs, tokenized deposits, and stablecoins.
- The company has moved from a traditional back-office role to active product development within its digital estate.
Leading custody bank State Street plans to launch tokenized deposits, stablecoins, money market funds and ETFs as it expands its footprint in the digital asset market, Bloomberg reported Thursday.
The bank plans to work with institutional investors, asset managers such as Franklin Resources and Fidelity, and its own wealth management arm, building partnerships such as its recent tokenized fund with Galaxy Digital.
State Street may also consider offering custody services in the future, further deepening its role in the tokenized assets space.
This is a developing story.
