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State Street Corporation has announced a strategic agreement with Taurus SA, a digital asset infrastructure provider, to enhance its digital asset capabilities for institutional clients.
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 aims to integrate Taurus' custody, tokenization, and node-management solutions into State Street Digital Asset Solutions. This move is expected to automate the issuance and servicing of digital assets, including digital securities and fund management vehicles, pending regulatory approvals.
Donna Milrod, Chief Product Officer and Head of Digital Asset Solutions,
State Street
Donna Milrod, State Street's Chief Product Officer and Head of Digital Asset Solutions, commented: “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. 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”.
State Street plans to utilize three of Taurus' products: Taurus-PROTECT, Taurus-CAPITAL for tokenised asset management, and Taurus-EXPLORER for blockchain connectivity across multiple protocols.
Lamine Brahimi, co-Founder and Managing Partner,
Taurus
Lamine Brahimi, co-Founder and Managing Partner of Taurus, commented: "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."
The partnership comes as institutional interest in digital assets continues to grow. State Street's digital custody product offering remains subject to regulatory approval.
