State Street Corporation and Taurus, a digital asset infrastructure company, have established a strategic partnership to provide trustworthy and dependable digital asset capabilities to State Street Bank and Trust Company clients.
With this arrangement, State Street Digital Asset Solutions will continue to grow and improve its integrated business and operating model that supports the lifecycle of digital investments.
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Taurus is a supplier of digital asset infrastructure with a focus on big financial institutions.
State Street intends to utilise Taurus’ comprehensive custody, tokenisation, and node-management solutions to streamline the issuance and maintenance of digital assets, such as fund management vehicles and digital securities, in compliance with relevant institutional standards.
This is set for after the company receives the necessary regulatory approvals.
In addition, the partnership is being formed at a moment when institutional interest in digital assets is higher than ever. State Street is still dedicated to offering its customers the greatest products and services in this new market.
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By GlobalDataState Street will employ three of Taurus’ competitive products: Taurus-PROTECT, Taurus-CAPITAL, which optimises the procedure of creating and managing tokenised assets throughout their lifecycle, and Taurus-EXPLORER, which connects blockchains to numerous different protocols.
Donna Milrod, State Street’s chief product officer and head of Digital Asset Solutions stated: “The collaboration with Taurus underscores our ongoing commitment to further establishing ourselves as leaders in this growing asset class, and this important announcement only enhances our ambition to deliver to our clients an amazing digital asset experience. We are excited to be working with Taurus as we continue to elevate our digital asset capabilities and deliver the innovative solutions our clients have been seeking.”
Lamine Brahimi, co-founder and managing partner of Taurus added: “We are thrilled to have been chosen by State Street as a strategic partner for custody and tokenisation and are excited about our collaboration and the opportunity to introduce innovative digital asset products and services to the industry.”
