Boston-based asset management and banking giant State Street is moving forward with tokenization projects for bonds and money market funds, but has no plans to issue stablecoins or tokenized deposits. State Street’s chief product officer, Donna Milrod, said there is no immediate need for this, although it is not ruled out in the future. The company currently has two tokenization projects focused on tokenizing bonds and money market funds that are expected to continue into next year. Milrod noted that tokenized collateral could help avoid a “liability-driven” crisis like the one in 2022, when pension funds could use tokenized money market funds as margin without having to liquidate assets for cash. (CoinDesk)