State Street Announces Agreement with Taurus to Deliver Full Service Digital Platform for Institutional Investors
State Street (NYSE: STT) has announced a strategic agreement with Taurus SA to enhance its digital asset capabilities for institutional investors. This collaboration will integrate tokenization and digital custody services into State Street's existing Fund Administration and Accounting capabilities for Digital Assets.
Subject to regulatory approvals, State Street will leverage Taurus' fully integrated custody, tokenization, and node-management solutions to automate the issuance and servicing of digital assets. The partnership aims to meet the growing institutional interest in digital assets by utilizing Taurus' products: Taurus-PROTECT, Taurus-CAPITAL, and Taurus-EXPLORER.
This agreement is part of State Street's ongoing commitment to establish itself as a leader in the digital asset space and enhance its State Street Digital Asset Solutions offering.
State Street (NYSE: STT) ha annunciato un accordo strategico con Taurus SA per migliorare le proprie capacità nel settore degli asset digitali per gli investitori istituzionali. Questa collaborazione integrerà servizi di tokenizzazione e custodia digitale nelle attuali capacità di Amministrazione e Contabilità dei Fondi di State Street per gli Asset Digitali.
Soggetto ad approvazioni regolamentari, State Street sfrutterà le soluzioni completamente integrate di custodia, tokenizzazione e gestione dei nodi di Taurus per automatizzare l'emissione e la gestione degli asset digitali. L'obiettivo della partnership è rispondere al crescente interesse istituzionale per gli asset digitali utilizzando i prodotti di Taurus: Taurus-PROTECT, Taurus-CAPITAL e Taurus-EXPLORER.
Questo accordo fa parte dell'impegno continuo di State Street per affermarsi come leader nel settore degli asset digitali e migliorare la propria offerta di State Street Digital Asset Solutions.
State Street (NYSE: STT) ha anunciado un acuerdo estratégico con Taurus SA para mejorar sus capacidades en activos digitales para inversores institucionales. Esta colaboración integrará servicios de tokenización y custodia digital en las capacidades existentes de Administración y Contabilidad de Fondos de State Street para Activos Digitales.
Sujeto a aprobaciones regulatorias, State Street aprovechará las soluciones de custodia integradas, tokenización y gestión de nodos de Taurus para automatizar la emisión y el servicio de activos digitales. La asociación tiene como objetivo satisfacer el creciente interés institucional en activos digitales utilizando los productos de Taurus: Taurus-PROTECT, Taurus-CAPITAL y Taurus-EXPLORER.
Este acuerdo es parte del compromiso continuo de State Street para establecerse como un líder en el espacio de activos digitales y mejorar su oferta de State Street Digital Asset Solutions.
State Street (NYSE: STT)는 기관 투자자를 위한 디지털 자산 기능을 향상시키기 위해 Taurus SA와 전략적 계약을 체결했다고 발표했습니다. 이 협력은 State Street의 기존 펀드 관리 및 회계 기능에 토큰화 및 디지털 보관 서비스를 통합할 것입니다.
규제 승인을 전제로 State Street는 Taurus의 완전히 통합된 보관, 토큰화 및 노드 관리 솔루션을 활용하여 디지털 자산의 발행 및 서비스를 자동화할 것입니다. 이 파트너십은 Taurus의 제품인 Taurus-PROTECT, Taurus-CAPITAL 및 Taurus-EXPLORER를 활용하여 디지털 자산에 대한 기관의 증가하는 관심을 충족하는 것을 목표로 합니다.
이 계약은 디지털 자산 분야에서 선두주자로 자리매김하고 State Street 디지털 자산 솔루션 제공을 강화하려는 State Street의 지속적인 노력의 일환입니다.
State Street (NYSE: STT) a annoncé un accord stratégique avec Taurus SA pour améliorer ses capacités d'actifs numériques pour les investisseurs institutionnels. Cette collaboration intégrera des services de tokenisation et de garde numérique dans les capacités existantes de gestion de fonds et de comptabilité de State Street pour les actifs numériques.
Sous réserve des approbations réglementaires, State Street tirera parti des solutions de garde, de tokenisation et de gestion de nœuds entièrement intégrées de Taurus pour automatiser l'émission et le service des actifs numériques. Le partenariat vise à répondre à l'intérêt institutionnel croissant pour les actifs numériques en utilisant les produits de Taurus : Taurus-PROTECT, Taurus-CAPITAL et Taurus-EXPLORER.
Ce contrat fait partie de l'engagement continu de State Street à se positionner comme un leader dans le domaine des actifs numériques et à améliorer son offre de solutions d'actifs numériques de State Street.
State Street (NYSE: STT) hat eine strategische Vereinbarung mit Taurus SA bekannt gegeben, um seine digitalen Vermögenswerte für institutionelle Investoren zu verbessern. Diese Zusammenarbeit wird Tokenisierung und digitale Verwahrdienste in die bestehenden Fondsverwaltungs- und Buchhaltungsfähigkeiten von State Street für digitale Vermögenswerte integrieren.
Vorbehaltlich regulatorischer Genehmigungen wird State Street die vollständig integrierten Lösungen für Verwahrung, Tokenisierung und Knotenverwaltung von Taurus nutzen, um die Ausgabe und Verwaltung digitaler Vermögenswerte zu automatisieren. Ziel der Partnerschaft ist es, dem wachsenden institutionellen Interesse an digitalen Vermögenswerten gerecht zu werden, indem die Produkte von Taurus genutzt werden: Taurus-PROTECT, Taurus-CAPITAL und Taurus-EXPLORER.
Diese Vereinbarung ist Teil des fortwährenden Engagements von State Street, sich als führendes Unternehmen im Bereich digitaler Vermögenswerte zu etablieren und das Angebot von State Street Digital Asset Solutions zu verbessern.
- Strategic partnership with Taurus to enhance digital asset capabilities
- Integration of tokenization and digital custody services into existing offerings
- Potential to meet growing institutional demand for digital asset solutions
- Access to Taurus' advanced digital asset infrastructure and products
- Digital custody product offering is subject to regulatory approval
- Implementation timeline and potential costs not disclosed
Insights
State Street's strategic agreement with Taurus marks a significant step in expanding its digital asset capabilities. This move aligns with the growing institutional demand for digital asset services, potentially positioning State Street as a leader in this emerging market. The collaboration could enhance State Street's competitive edge and diversify its revenue streams.
However, investors should note that the digital custody product offering is subject to regulatory approval, which introduces uncertainty and potential delays. The financial impact remains unclear without specific revenue projections or cost details. While this partnership demonstrates State Street's commitment to innovation, it's important to monitor how quickly these services can be implemented and adopted by clients to gauge the actual impact on the company's bottom line.
The integration of Taurus' technology suite into State Street's operations represents a significant technological leap. Taurus' products - PROTECT, CAPITAL and EXPLORER - offer a comprehensive solution for digital asset management, tokenization and blockchain connectivity. This could potentially streamline operations and reduce costs for State Street in the long run.
The ability to automate the issuance and servicing of digital assets, including digital securities and fund management vehicles, could lead to increased efficiency and scalability. However, the challenge lies in seamlessly integrating these new systems with State Street's existing infrastructure and ensuring robust security measures. Investors should keep an eye on the implementation process and any potential cybersecurity risks associated with this digital expansion.
State Street's move into digital assets reflects a broader trend in the financial industry. With institutional interest in digital assets at an "all-time high," this partnership could position State Street to capture a significant share of this growing market. The collaboration addresses the increasing demand for trusted and reliable digital asset services among institutional investors.
However, the digital asset market is still volatile and evolving. State Street will face competition from both traditional financial institutions and fintech startups in this space. The success of this initiative will depend on factors such as market adoption rates, regulatory developments and the overall performance of digital assets. Investors should monitor these factors closely to assess the long-term potential of State Street's digital asset strategy.
- Agreement will add tokenization and digital custody services to firm’s existing Fund Administration and Accounting capabilities for Digital Assets
“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,” said Donna Milrod, State Street’s chief product officer and head of Digital Asset Solutions. “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.”
Taurus is an industry-leading digital asset infrastructure provider that specializes in serving large financial institutions. Subject to receipt of applicable regulatory approvals, State Street will leverage Taurus’ fully integrated, custody, tokenization and node-management solutions to automate the issuance and servicing of digital assets, including digital securities and fund management vehicles, in accordance with applicable institutional standards.
The collaboration comes at a time when institutional interest in digital assets is at an all-time high. State Street remains committed to providing its clients with best-in-class solutions for this emerging space.
State Street will be leveraging three of Taurus’ industry leading products including, Taurus-PROTECT, Taurus-CAPITAL, which streamlines the process of creating and managing tokenized assets throughout their lifecycle, and Taurus-EXPLORER, which provides blockchain connectivity to dozens of different blockchain protocols.
“We are thrilled to have been chosen by State Street as a strategic partner for custody and tokenization and are excited about our collaboration and the opportunity to introduce innovative digital asset products and services to the industry,” said Lamine Brahimi, co-founder and managing partner of Taurus.
State Street’s digital custody product offering is subject to regulatory approval.
To learn more about State Street’s digital assets capabilities, visit here.
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With
*Assets under management as of June 30, 2024 includes approximately
© 2024 State Street Corporation
6934400.1.1.GBL.RTL
View source version on businesswire.com: https://www.businesswire.com/news/home/20240820283010/en/
Media:
State Street:
Ed Patterson
epatterson@statestreet.com
+1 (404) 213-3106
Brendan Paul
Bpaul2@statestreet.com
+1 401 644 9182
Taurus:
Victor Busson
victor@taurushq.com
Katie Olver
katie@clpr.agency
Source: State Street Corporation
FAQ
What is the purpose of State Street's agreement with Taurus?
Which Taurus products will State Street (STT) be using?
Is State Street's digital custody offering immediately available?
How does this agreement impact State Street's (STT) position in the digital asset market?
