Overview
- The new Digital Asset Platform is designed to support tokenized money-market funds and ETFs, plus cash instruments such as tokenized deposits and stablecoins.
- State Street bundles wallet management, custodial services, and cash functionality into one environment with a single interface for multi-jurisdictional use.
- The infrastructure operates across private and public permissioned blockchain networks to meet institutional requirements for controlled access and oversight.
- Recent pilots include a tokenized fund launched with Galaxy Digital, reflecting a shift from back-office crypto support to direct product development with clients.
- The rollout comes as peers introduce tokenized deposits and money-market funds, while regulators flag investor-rights risks and tokenized stocks total roughly $1.2 billion in market value; State Street oversees about $51.7 trillion in assets under custody or administration.