State Street has belatedly launched a digital assets platform, which includes wallet management, custody and cash capabilities, designed to support tokenised product development across jurisdictions covering both private and public permissioned blockchain networks.
State Street’s digital asset strategy has stuttered ever since Nadine Chakar, global head of digital assets, left in 2022 after barely a year in post. In 2024 State Street hired Vanessa Fernandes from BNY as head of digital asset solutions, but her tenure was short-lived. In 2024 it agreed to terminate its licensing agreement with UK-based Copper, a crypto custodian. It subsequently signed a deal with Taurus, the Switzerland-based digital assets fintech.