State Street to Offer Crypto Custody in Pact With Copper – CoinDesk

State Street has entered a licensing agreement with Copper to develop and launch an institutional-grade digital asset custody product.

  • “We are building the financial infrastructure needed to support our clients’ allocations to this new asset class,” said Nadine Chakar, head of State Street Digital.

  • London-based Copper is a provider of institutional custody offerings across more than 40 exchanges and 450 digital assets.

  • The State Street custody product will be subject to regulatory approval.

  • A custodial bank with more than $43 trillion in assets under custody and administration, and just shy of $4 trillion in assets under management, State Street launched a crypto division last year with plans to evolve into a “multi-asset platform” to support cryptocurrency trading and more.

DISCLOSURE

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Michael Bellusci is CoinDesk’s crypto payments reporter.


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