Custody giant State Street to roll out new tokenized deposits and stablecoins

Source: CryptoNewsNet Original Title: Custody giant State Street to roll out new tokenized deposits and stablecoins Original Link:

Key Takeaways

• State Street is expanding into digital assets with a new suite of tokenized products, including money-market funds, ETFs, tokenized deposits, and stablecoins.
• The firm has shifted from its traditional back-office roles toward active product development within digital assets.

Overview

Major custody bank State Street plans to launch tokenized deposits, stablecoins, money-market funds, and ETFs as it grows its footprint in the digital asset market.

The bank plans to collaborate with institutional clients, money managers such as Franklin Resources and Fidelity, and its own asset-management arm, building on partnerships like its recent tokenized fund with Galaxy Digital.

State Street may also explore offering custody services later, further deepening its role in the tokenized asset space.