• Agreement will add tokenization and digital custody services to firm’s existing Fund Administration and Accounting capabilities for Digital Assets

BOSTON--(BUSINESS WIRE)--Aug. 20, 2024-- State Street Corporation (NYSE: STT) and Taurus SA (“Taurus”), a global leader in digital asset infrastructure, today announced a strategic agreement that will deliver trusted and reliable digital assets capabilities for State Street Bank and Trust Company clients. The agreement will further enhance State Street Digital Asset Solutions, which seeks to provide an integrated business and operating model that supports the digital investment lifecycle.

“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,” said Donna Milrod, State Street’s chief product officer and head of Digital Asset Solutions. “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.”

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 comes at a time when institutional interest in digital assets is at an all-time high. State Street remains committed to providing its clients with best-in-class solutions for this emerging space.

State Street will be leveraging three of Taurus’ industry leading products including, Taurus-PROTECT, Taurus-CAPITAL, which streamlines the process of creating and managing tokenized assets throughout their lifecycle, and Taurus-EXPLORER, which provides blockchain connectivity to dozens of different blockchain protocols.

“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,” said Lamine Brahimi, co-founder and managing partner of Taurus.

State Street’s digital custody product offering is subject to regulatory approval.

To learn more about State Street’s digital assets capabilities, visit here.

About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $44.3 trillion in assets under custody and/or administration and $4.4 trillion* in assets under management as of June 30, 2024, State Street operates globally in more than 100 geographic markets and employs approximately 53,000 worldwide. For more information, visit State Street's website at www.statestreet.com.

*Assets under management as of June 30, 2024 includes approximately $69 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.

© 2024 State Street Corporation

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Media:
State Street:
Ed Patterson
epatterson@statestreet.com
+1 (404) 213-3106

Brendan Paul
Bpaul2@statestreet.com
+1 401 644 9182

Taurus:
Victor Busson
victor@taurushq.com

Katie Olver
katie@clpr.agency

Source: State Street Corporation