State Street Launches Tokenization Platform, Entering a New Era of Digital Assets

Comprehensive Expansion into Digital Asset Ecosystem

As a global financial leader managing $51.7 trillion in assets, State Street recently announced its tokenization initiative. This includes plans to develop tokenized money market funds, exchange-traded funds (ETFs), tokenized deposits, and stablecoin-based cash products.

Strategic Transformation Takes a Major Step

Joerg Ambrosius, President of Investment Services at State Street, stated that launching the digital asset platform marks a crucial milestone in the bank's strategic evolution. This platform will deliver more efficient asset management and trading solutions, strengthening the bank's competitiveness in the digital finance sector.

Expanding Blockchain Initiatives

Prior to this, State Street provided management and accounting services for crypto ETFs. In December last year, the bank partnered with Galaxy Digital to launch a tokenized fund project. Going forward, as the regulatory landscape becomes clearer, the bank will explore digital asset custody services, further enhancing its blockchain capabilities.