State Street Bank launches digital asset platform to enter the tokenized deposits and stablecoin market

According to Bloomberg, global custody giant State Street has announced the launch of a digital asset platform, intending to introduce tokenized money market funds, ETFs, stablecoins, and deposit products.

The plan will be promoted in collaboration with its asset management department and partner institutions, marking its shift from backend services to direct participation in asset issuance. Previously, State Street collaborated with Galaxy Digital to issue tokenized funds and is also considering providing crypto custody services in the future.