State Street launches institutional digital asset platform for tokenization

Multinational banking giant State Street has launched an institutional digital asset platform designed to help businesses navigate the crypto sector and launch a range of tokenized products. State Street said the platform aims to bridge traditional assets to crypto via tokenization and will support the creation of tokenized money market funds, exchange-traded funds, and products such as tokenized deposits and stablecoins.

It will provide institutions with tokenization services, digital asset custody and access to a range of digital assets. Joerg Ambrosius, State Street’s president of investment services, said the platform pairs "blockchain connectivity with robust controls and global servicing expertise" to enable institutions to embrace tokenization as part of their core strategy.

The initiative is initially targeted at institutional clients and, like other bank-led tokenization efforts, remains subject to jurisdictional regulatory approvals. State Street, which has $5.4 trillion in assets under management, has been increasing activity in digital assets, including teaming up with Galaxy Asset Management and Ondo Finance for a tokenized fund on Solana in December.

Key Topics

Crypto, State Street, Tokenization Platform, Money Market Funds, Exchange-traded Funds, Stablecoins