Multinational banking giant State Street has launched an institutional digital asset platform, aimed at helping businesses navigate the sector and launch a range of crypto products.
State Street said on Thursday its platform aims to bridge traditional assets to crypto via tokenization and will support the creation of tokenized money market funds, exchange-traded funds, as well as products such as tokenized deposits and stablecoins.
The platform will provide institutions with tokenization services, digital asset custody and access to a range of digital assets.
“By pairing blockchain connectivity with robust controls and global servicing expertise, we’re enabling institutions to confidently embrace tokenization as part of their core strategy,” said Joerg Ambrosius, State Street’s president of investment services.
Like other bank-led tokenization initiatives, the platform is initially targeted at institutional clients and remains subject to jurisdictional regulatory approvals
Tokenization has become a key focus for traditional finance companies as they push to experiment with blockchain, which proponents say can improve liquidity.
Related: BNY launches tokenized deposits amid TradFi rush into blockchain and crypto
Crypto banking group Sygnum has tipped tokenization to hit the mainstream in 2026 on the back of clear regulations rolling out in the US.
State Street has $5.4 trillion worth of assets under management. The firm has been dipping its toes into the digital asset space for the past couple of years, with momentum growing significantly in 2025.
In December, the firm teamed up with Galaxy Asset Management and Ondo Finance for a tokenized fund on Solana. The aim of the fund is to push cash sweep balance on blockchains to enable a 24/7 source of liquidity.
Other finance managers, such as Fidelity, Franklin Templeton and JPMorgan, have also launched tokenized money-market funds, with many more traditional firms, including BlackRock, having also launched crypto-tied ETFs.
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