đ **State Street Eyes Blockchain with Stablecoin & Tokenized Deposits!** đ
State Street Corp., a Boston-based financial giant, is diving deeper into the crypto world! According to Bloomberg, the bank is exploring the launch of its own stablecoin and tokenized deposits to streamline payment settlements using blockchain technology. đđ°
State Street is not stopping there! Theyâre also keen on joining digital-cash consortiums and exploring settlement options through Fnality International, a fintech theyâve invested in. This move aligns traditional finance with digital assets, showing their commitment to innovation. đđĄ
Moreover, State Street is already providing fund administration for spot Bitcoin ETFs and has partnered with Galaxy Asset Management to develop digital asset ETFs. Theyâre also rebuilding their digital asset division to offer crypto custody services. đŠđ
With major banks like JPMorgan and Goldman Sachs also embracing blockchain, the future looks bright for Bitcoin and digital assets in mainstream finance! đđ
