State Street Corporation (NYSE: STT) and Taurus SA, a global firm focused on digital asset infrastructure, has announced a strategic agreement seeking to deliver digital assets capabilities for State Street Bank and Trust Company clients.
The agreement will further enhance State Street Digital Asset Solutions, which seeks “to provide an integrated business and operating model that supports the digital investment lifecycle.”
Donna Milrod, State Street’s chief product officer and head of Digital Asset Solutions:
“The collaboration with Taurus underscores our ongoing commitment to further establishing ourselves as leaders in this growing asset class, and this important announcement only enhances our ambition to deliver to our clients an amazing digital asset experience. We are excited to be working with Taurus as we continue to elevate our digital asset capabilities and deliver the innovative solutions our clients have been seeking.”
Taurus is a digital asset infrastructure provider “that specializes in serving large financial institutions.”
Subject to receipt of applicable regulatory approvals, State Street will leverage Taurus’ fully integrated, custody, tokenization and node-management solutions “to automate the issuance and servicing of digital assets, including digital securities and fund management vehicles, in accordance with applicable institutional standards.”
The collaboration comes at a time when institutional interest “in digital assets is at an all-time high. State Street remains committed to providing its clients with best-in-class solutions for this emerging space.”
State Street will be leveraging “three of Taurus’ industry leading products including, Taurus-PROTECT, Taurus-CAPITAL, which streamlines the process of creating and managing tokenized assets throughout their lifecycle, and Taurus-EXPLORER, which provides blockchain connectivity to dozens of different blockchain protocols.”
Lamine Brahimi, co-founder and managing partner of Taurus:
“We are thrilled to have been chosen by State Street as a strategic partner for custody and tokenization and are excited about our collaboration and the opportunity to introduce innovative digital asset products and services to the industry.”
State Street’s digital custody product offering is subject to regulatory approval.
State Street Corporation (NYSE: STT) is one of the world’s “providers of financial services to institutional investors including investment servicing, investment management and investment research and trading.”
With $44.3 trillion in assets under custody and/or administration and $4.4 trillion in assets under management as of June 30, 2024, State Street operates globally in “more than 100 geographic markets and employs approximately 53,000 worldwide.”