State Street, an American bank offering financial services, has introduced a new digital asset service.
The administration solution is available to the company's private funds clients, and opens up the possibility of diversifying their portfolios. Offerings related to crypto will include collection, standardisation, reporting and processing.
To facilitate the new service, State Street has entered into a partnership with Lukka, a blockchain data and software provider. Lukka is concerned with ensuring crypto transactions are ready to be reported and audited. Amongst other things, the company will provide data administration.
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