TradFi giant State Street to launch crypto custody and tokenization services for institutional investors

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State Street, a leading global asset manager with more than $4 trillion in assets under management, announced on Tuesday that it is partnering with Taurus, a digital asset infrastructure provider, to enhance digital asset services for institutional investors. The firm is looking to add tokenization and digital custody services to its existing offerings.

The strategic collaboration will use Taurus solutions to automate the issuance and servicing of digital assets, including tokenized securities and fund management vehicles, State Street said in a press release.

The integrated solutions are Taurus-PROTECT (custody), Taurus-CAPITAL (issuance and tokenization) and Taurus-EXPLORER (blockchain connectivity). These are also the top products of Taurus. Taurus-PROTECT and Taurus-CAPITAL have already been integrated into the Stellar Network.

With Taurus’ advanced technology, State Street aims to provide a platform that supports the entire digital investment lifecycle for clients. The firm said the partnership with Taurus could help it meet growing demand for digital asset solutions among institutional investors.

“We are excited to work with Taurus as we continue to grow our digital asset capabilities and deliver the innovative solutions our clients have been looking for,” said Donna Milrod, State Street Chief Product Officer and Head of State Street Digital.

The new offerings are expected to launch after receiving regulatory approval, State Street noted.

“We are delighted to have been chosen by State Street as a strategic custody and tokenization partner and are excited about our collaboration and the opportunity to introduce innovative digital asset products and services to the industry,” said Lamine Brahimi, Co-Founder and Managing Director . partner of Taurus.

State Street has been actively involved in the digital asset space for the past few years. Earlier this year, State Street Global Advisors (SSGA), the asset management arm of State Street, announced a collaboration with Galaxy Digital to launch exchange-traded funds targeting equity investments and crypto-related ETPs.

Last month, State Street said it was considering creating stablecoins and tokenized deposits to improve blockchain-based transfers.

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