State Street Launches Platform For Tokenizing Assets

Multinational banking giant State Street has introduced a new institutional digital asset platform designed to help businesses navigate the crypto sector and launch various tokenized products. The platform aims to bridge traditional assets with crypto through tokenization, enabling clients to build tokenized money market funds, exchange-traded funds, tokenized deposits, and stablecoins. It will offer institutions tokenization services, digital asset custody, and access to a range of digital assets. Joerg Ambrosius, State Street’s president of investment services, stated that the platform enables institutions to confidently adopt tokenization by pairing blockchain connectivity with robust controls and global servicing expertise. Tokenization is a growing focus for traditional finance firms seeking to leverage blockchain for improved liquidity, with other major players like Fidelity, Franklin Templeton, and JPMorgan also exploring similar tokenized funds.

(Source：Cointelegraph)