State Street to Tokenize Assets Through Taurus, Eyes Crypto Custody's Future
CryptoNewsTerminal Staff20 Aug, 2024
State Street to Tokenize Assets Through Taurus, Eyes Crypto Custody's Future
Taurus, a provider of digital asset services including tokenization and custody, has partnered with State Street, one of the largest asset managers in the world. The aim of this collaboration is to enhance State Street's digital asset offerings. Initially, the focus will be on tokenization, as opposed to direct cryptocurrency custody. This is due to the ongoing regulatory uncertainties surrounding cryptocurrency in the United States. State Street plans to enter the digital asset custody space once the regulatory environment becomes clearer. Donna Milrod, State Street's head of product and digital asset solutions, stated that the company's initial focus will be digital asset tokenization and associated services. As regulatory clarity improves in the U.S., the company may then offer digital custody services.
