State Street’s strategic partnership with Taurus marks a significant advancement in the financial industry operations, particularly in fund services, middle office duties. While front-office areas like portfolio management have rapidly embraced technology, back and middle offices have lagged behind. This move by State Street is a crucial step towards automating and optimizing traditionally manual processes. By enhancing their digital asset capabilities, State Street is not only improving operational efficiency but also positioning itself as a leader in the evolving digital asset space. This collaboration will undoubtedly elevate their service offering, benefiting both clients and the broader financial industry.
There are few news announcements as relevant as this for digital assets. We are pleased to announce a strategic collaboration with State Street, one of the world's largest custodian banks.
State Street will leverage Taurus’ fully integrated custody (Taurus-PROTECT), tokenization (Taurus-CAPITAL), and node-management (Taurus-EXPLORER) solutions to automate the issuance and servicing of digital assets, including digital securities and fund management vehicles, in accordance with all applicable institutional standards.
Read the full announcement: https://lnkd.in/eSVgMDby
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2moIt's interesting to see how the industry is evolving to address the unique risks faced by crypto and digital asset companies.