State Street Bank Opens Cryptocurrency Division – Bits Media

State Street, the second oldest existing bank in the USA, has launched a division to work with cryptoassets. The bank plans to launch cryptocurrency trade this year.

According to the press release
bank, The new Street Digital division will lead the executive Vice-President Nadine Shakar (Nadine chakar), which will obey the operating director of the bank Lu Maiuri (Lou May). State Street expands the work in the cryptocurrency area, state cryptocurrencies, blockchain, tokenization and modernizes its Globallink platform to the digital trading system.

In April, information appeared, that State Street is working on a new trading platform for digital assets, which will be launched in the middle of the year as part of the partnership between the supplier of trade technologies of Currenex and the London company Pure Digital, which develops infrastructure for foreign exchange platforms. Then the companies said, what, After further study of the digital assets industry, State Street plans to launch trading of crypto actures in the middle 2021 of the year.

“Digital assets are quickly integrated into the structure of financial services, And very important, So that we have tools for providing our customers with solutions as for their traditional investment needs, and for their digital ", – Said the General Director of State Street Ron O’henley (Ron O’Hanley) In the statement this week.

Many large banks, eg, BNY Mellon, Goldman Sachs and Morgan Stanley are now also developing solutions for cryptocurrencies.