#StateStreet

State Street lands first external client for tokenized fund servicing

State Street has secured its first external client, a major European asset manager, for its tokenized fund servicing platform based in Luxembourg. This development follows the bank's April announcement to provide administration, custody, and transfer agency services for tokenized money market funds. The initiative leverages State Street's Digital Asset Platform, which utilizes custody and tokenization technology provided by Taurus. By expanding its services to external clients, the bank is positioning itself to compete directly with established players like Clearstream, Euroclear, and Apex Group. This move signifies a broader institutional shift toward integrating distributed ledger technology into traditional fund administration workflows. The expansion into Luxembourg is particularly significant given the region's status as a global hub for investment funds. As traditional financial institutions continue to adopt DLT, the infrastructure for tokenized assets is becoming increasingly robust and competitive.

ledgerinsights.com·2h ago