The new division – ‘State Street Digital’ – will build on State Street’s current digital capabilities and will expand to include crypto, CBDC, blockchain, and tokenization.
United States, June 10, 2021 /AlexaBlockchain/ – State Street, the oldest bank in the US with $40.3 trillion in assets, launches a new dedicated crypto division focused on addressing the industry’s evolving shift to digital finance.
- The new division has been named ‘State Street Digital’. It will build on State Street’s current digital capabilities and will expand to include crypto, central bank digital currency, blockchain, and tokenization.
- “The financial industry is transforming to a digital economy, and we see digital assets as one of the most significant forces impacting our industry over the next five years,” said Ron O’Hanley, chairman and chief executive officer of State Street Corporation.
- Ron added, “Digital assets are quickly becoming integrated into the existing framework of financial services, and it is critical we have the tools in place to provide our clients with solutions for both their traditional investment needs as well as their increased digital needs.”
- State Street Digital will be led by Nadine Chakar, three-decade industry veteran and executive vice president. Chakar will report to Lou Maiuri, chief operating officer of State Street Corporation.