State Street Corporation is updating its Digital Asset Solutions platform for institutional clients to include asset custody, tokenization, and node management solutions.
State Street, a financial conglomerate with $4.4 trillion in AUM, announced a partnership with Taurus, one of the largest providers of institutional-grade digital asset infrastructure solutions.
The collaboration will update State Street’s Digital Asset Solutions platform, which provides different digital asset management solutions that integrate with the existing business models and operational processes of State Street’s institutional clients.
Taurus’ flagship products will be added to the platform, namely:
- Taurus-PROTECT, a solution for storing and processing any type of digital asset;
- Taurus-CAPITAL, a solution for optimizing the creation and management of tokenized assets throughout their lifecycle;
- Taurus-EXPLORER, a solution for connecting to dozens of different blockchain networks.
Once upgraded, the platform will provide clients with custodian, tokenization, and node management services to automate the issuance and servicing of digital assets, including digital securities and fund management tools, in accordance with current institutional standards.
Tokenization is one of the top trends in the cryptocurrency market in 2024, which is directly and indirectly supported by major financial companies. More and more institutional-grade solutions are emerging, providing large financial capital with tools to invest in digital assets.
