State Street Corp. entered into a strategic agreement with Taurus SA to strengthen its digital asset capabilities for State Street Bank and Trust Company clients.
Taurus is a digital asset infrastructure provider that specializes in serving large financial institutions. State Street intends to use 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. The collaboration comes at a time when institutional interest in digital assets is at an all-time high.
“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,” Donna Milrod, State Street’s chief product officer and head of Digital Asset Solutions, said. “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 will leverage three of Taurus’ 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,” Lamine Brahimi, co-founder and managing partner of Taurus, said.