State Street has introduced a new institutional digital asset platform designed to help firms develop and manage tokenised financial products.
The platform will support tokenised money market funds, exchange-traded funds, tokenised deposits and stablecoins.
State Street said the offering aims to bridge traditional finance and blockchain technology through large-scale asset tokenisation.
Institutions will gain access to tokenisation services, digital asset custody and a broad range of crypto-related tools.
“By pairing blockchain connectivity with robust controls and global servicing expertise, we’re enabling institutions to confidently embrace tokenisation as part of their core strategy,”
Joerg Ambrosius said.
Tokenisation is gaining traction among traditional finance firms seeking improved liquidity and more efficient settlement.
State Street manages $5.4 trillion in assets and has accelerated its digital asset initiatives over the past year.
In December, the bank partnered with Galaxy Asset Management and Ondo Finance to launch a tokenised fund on the Solana blockchain.
The fund aims to enable on-chain cash sweep balances and provide continuous, round-the-clock liquidity.
Other major asset managers, including Fidelity, Franklin Templeton, JPMorgan and BlackRock, have also expanded into tokenised funds and crypto-linked ETFs.
At the time of reporting, Solana price was $142.95.