America’s Second Oldest Bank State Street to Provide Cryptocurrency Services to Private-Fund Customers
State Street Corporation joined forces with Lukka Inc. to offer cryptocurrency services to private-fund clients.
The American financial institution State Street Corporation started offering digital assets services for its private-fund clients. The bank’s partner in the move is the back-office crypto-focused technology company, Lukka Inc.
State Street Dives Deeper into Crypto
State Street Corporation, the leading US bank, is looking to offer cryptocurrency reconciliation, reporting, and processing services to its private-fund users. To achieve that, the financial institution teamed up with the digital assets technology firm Lukka Inc.
In addition, the latter will provide State Street’s top clients with data to support valuation services. Nadine Chakar, a top executive at the US bank – noted that the demand in cryptocurrencies has not cooled off, and the institution will keep satisfying its clients’ appetite for digital assets:
“The growth in popularity of digital assets is showing no signs of a slowdown and State Street Digital is committed to continuing to build out the necessary infrastructure to further develop our digital assets servicing models to help meet our clients’ growing demands.”
It is worth noting that State Street, which is America’s second oldest bank, recently enabled cryptocurrency trading through its infrastructure. The corporation with more than $3 trillion in assets under management announced it would allow the London-based exchange Pure Digital Markets to use its Currenex platform for trading with virtual currencies.
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