Wall Street Bitcoin Adoption Continues As State Street The Second-Oldest Continually Operating United States Bank To Offer Crypto Services

The Crypto Basic
Jul 29 · 2 min read

State Street Corporation, an American financial services and bank holding company headquartered in Boston with operations all over the globe to Offer Crypto Services to Private-Fund Clients. State Street Corporation is the 2nd oldest bank in America.

Read: 57,000 Bitcoin Left Crypto Exchanges In 24 Hours Showing Bullish Sentiments Along With 465,000 Bitcoins Transferred Between Coinbase And Unknown Wallets

Bloomberg reports that State Street Corporation is one of the most important banking holding companies in America and is now ready to offer crypto services for its private clients.

State Street Corp. plans to offer cryptocurrency reconciliation, reporting, and processing services to its private-fund clients as a sign of digital assets’ acceptance by Wall Street.

State Street announced Thursday that the firm has partnered with Lukka Inc. to offer crypto fund management services. Lukka Inc, a provider of middle- and back-office crypto software for fund-administration services.

Boston State Street has $ 42.6 trillion of assets and is the largest custodian in the world.

Read: Whether They Like It Or Not, Banks Are Becoming Bitcoin Banks

Head of State Street Digital, Nadine Chakar said.

The growth in popularity of digital assets is showing no signs of a slowdown and State Street Digital is committed to continuing to build out the necessary infrastructure to further develop our digital assets servicing models to help meet our clients’ growing demands. Our work with Lukka will leverage their software and data in order to help expand our digital and crypto asset fund administration capabilities to alternative managers is just another advancement in our digital solution set and marks a very exciting development.”

Originally published at https://thecryptobasic.com on July 29, 2021.

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