State Street to partner with Lukka Inc. to provide digital asset management software
State Street, one of the oldest banks in the United States, will offer crypto services to wealthy clients of its funds, reports Bloomberg .
According to the publication, the bank is ready to assist in reporting and processing transactions with digital assets. To this end, State Street plans to partner with cryptocurrency software provider Lukka Inc.
In June of this year, State Street created a division that focuses on central bank digital currencies (CBDCs), blockchain technology, tokenization, and cryptocurrency .
The company stressed that its proprietary technology platform GlobalLink will be converted to a digital platform and will start supporting various assets. In the future, it is planned to add support for cryptocurrency .
On July 23, JPMorgan became the first of the largest American investment banks to provide clients with access to cryptocurrency funds.
Since July 19, JPMorgan financial advisors have been able to offer their clients investments in four Grayscale funds (Bitcoin Trust, Bitcoin Cash Trust, Ethereum Trust and Ethereum Classic Trust), as well as in the Osprey Bitcoin Trust.
State Street Bank was founded in 1796; only one bank currently operating is older than him. State Street manages and deposits $ 40 trillion in assets.