State Street Corporation (NYSE:STT) announced a new crypto custody offering in partnership with custody startup Copper.
The development comes as a follow-through on the company’s earlier custody ambitions.
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“As institutional investors’ interest in digital assets continues to grow, 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.
Going forward, the custody product, which is subject to regulatory approval, will leverage Copper.co’s technology to develop and launch institutional-grade solutions for the new digital economy.
“State Street Digital’s mission continues to focus on putting the right tools in place so we can provide clients with solutions to support their traditional, as well as digital assets needs,” said Chakar. “Today’s exciting announcement will only enhance our ambition to deliver to our clients an amazing digital experience. We look forward to collaborating with the team at Copper as State Street Digital continues to grow.”