State Street has entered a licensing agreement with Copper.co to develop and launch an institutional grade digital asset custody product.
- “We are building the financial infrastructure needed to support our clients’ allocations to this new asset class,” said Nadine Chakar, head of State Street Digital.
- London-based Copper.co is a provider of institutional custody offerings across more than 40 exchanges and 450 digital assets.
- The State Street custody product will be subject to regulatory approval.
- A custodial bank with more than $43 trillion in assets under custody and administration, and just shy of $4 trillion in assets under management, State Street launched a crypto division last year with plans to evolve into a “multi-asset platform” to support cryptocurrency trading and more.