State Street and Taurus Partner for Tokenization Plans
State Street is partnering with digital asset custodian Taurus for its tokenization plans with the intention of extending to crypto custody once the U.S. regulatory environment improves. The bank, which manages $44.3 trillion in assets under management, intends to offer tokenized versions of traditional assets and provide digital custody services as soon as regulations allow.
“While we’re starting with tokenization, that’s not where we’re ending. As soon as the U.S. regulations help us out, we will be providing digital custody services as well.”
- State Street plans to go live with tokenized versions of traditional assets.
- The bank has been “very vocal” about the need for regulatory changes such as SAB 121 reform.