State Street, a Boston-based bank, has announced a new crypto custody offering in partnership with Copper, a UK-based custodial firm.
State Street Digital will use Copper.co’s technology to develop and, subject to regulatory and other approvals, launch an institutional grade digital custody offering in which clients will be able to store and settle their digital assets in a secure environment operated by State Street, “State Street said in a statement released Wednesday morning.
According to the announcement, State Street’s custody product is “subject to regulatory approval.”
“As the digital asset market evolves, this partnership will assist our business in expanding our product offering and roadmap,” Swen Werner, State Street Digital’s head of digital custody, said in a statement.
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world’s leading providers of institutional investors with financial services such as investment servicing, investment management, and investment research and trading. State Street operates in more than 100 countries and employs more than 39,000 people around the world. It has $42.6 trillion in assets under custody and/or administration and $3.9 trillion in assets under management as of June 30, 2021.