Official announcement from State Street Corporation or major financial news outlets like Bloomberg or Reuters

State Street Explores Creating Stablecoin and Deposit Token with $4 Trillion AUM

Jul 17, 2024, 04:38 PM

State Street Corporation, the fourth largest asset manager with $4 trillion in assets under management (AUM), is exploring the creation of a stablecoin and deposit token. The Boston-based financial services and banking giant, which also holds $41.8 trillion in assets under custody, is looking into ways to settle payments on blockchain technology. This move signifies a significant step for State Street Corporation in embracing digital assets and blockchain technology, as reported by Bloomberg.