7 December 2018920

State Street Financial Holding may add a service for cryptoactive assets storage

Boston State Street Financial Corporation, focused on institutional market participants, is ready to provide custodial services in respect of cryptoactive assets, if there is a demand from customers. It is reported by CoinDesk, citing the director of the company for the development of digital products and innovations Jay Biankamano.

According to Biankamano, many customers are already expressing increased interest in cryptocurrencies, but so far none of them consider the company as a place to store this type of assets. Therefore, State Street, according to the head, today sees no need to launch custodial services for digital coins.

Biancamano noted that the financial company is seriously considering the issue of the emergence of such a service and constantly communicates with clients about this issue. But to declare officially on the intensification of activities in the direction of cryptocurrency State Street is not ready.

Also, a company representative added that in the future, State Street will most likely deal with a cryptocurrency market. This is possible in view of the relevance of such processes as tokenization and digitization of fiat assets.

Last month, another representative of the traditional market, Fidelity, launched a cryptoplatform for institutional investors. Fidelity Digital Asset will focus on storage solutions for cryptoactive assets, not their trading. Earlier it became known that the platform will add support for 5-7 of the largest in terms of capitalization of digital assets.