Krisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.
State Street, a Boston-based asset management and banking giant, is exploring creating stablecoins and tokenized deposits to settle transfers on blockchain rails, BloombergThe bank also weighs participating in"digital-cash consortium efforts" and is"looking at settlement options" via Fnality International, a fintech firm in which State Street hasThe report comes as State Street is increasing its presence in the digital asset space.
State Street Global Advisors, the investment management arm of the company, also inked a deal with crypto investment firm Galaxy to develop crypto trading products, CoinDeskreported early last month that State Street was rebuilding its digital asset division only six months after cutting the team, with plans for offering crypto custody services.are blockchain-based cryptocurrencies with a pegged price to an external asset. Most stablecoins are pegged to the U.S.
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