According to BlockBeats, on July 18, Bloomberg reported, citing people familiar with the matter, that US financial services and banking giant State Street is exploring ways to participate in blockchain payment settlements.
The company is exploring the creation of its own stablecoin and is considering creating its own deposit token, which would represent customer deposits on a blockchain. A State Street spokesman declined to comment because the work has not yet been made public.
It is reported that State Street Corporation is one of the world's largest asset management companies and the world's second largest fund custodian bank, with assets under management exceeding US$4 trillion.
