State Street Partners with Taurus to Provide Digital Asset Services for Investors
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
State Street, a major U.S. financial services provider, has partnered with Swiss-based crypto firm Taurus to expand its offerings in the digital asset space.
The collaboration aims to meet the growing institutional demand for digital asset services by introducing new capabilities, including the tokenization of real-world assets, which allows these assets to be traded as digital tokens.
State Street, which already provides fund administration and accounting services for crypto investments, will now extend its services to include the custody of crypto assets and the facilitation of tokenized assets, according to a report from Reuters.
State Street’s partnership with Taurus positions the company to assist clients in creating and managing tokenized funds and other securities, further integrating traditional finance with the burgeoning digital asset market.
Tokenization is a process that involves converting ownership rights of traditional assets into digital tokens that are recorded on a blockchain.
This decentralized ledger, maintained by a consensus of its users, offers enhanced transparency and security, making the trading of these assets more efficient and accessible.
There are few news announcements as relevant as this for digital assets. We are pleased to announce a strategic collaboration with @StateStreet, one of the world's largest custodian banks.
Read the full announcement: https://t.co/14G1SecORW pic.twitter.com/c2ha5KTYc0
“Our clients need the ability to navigate both traditional finance and digital assets side by side,”
Read more on cryptonews.com
