State Street to develop digital custody in collaboration with Copper.co
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State Street to develop digital custody in collaboration with Copper.co 10 March 2022United Kingdom Reporter: Jenna Lomax
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State Street Digital, the Boston-based bank’s dedicated digital division, has entered into a licensing agreement with Copper.co (Copper), to develop and grade digital custody offering where clients can store and settle their digital assets.
The mandate, subject to receipt of regulatory and other approvals, will offer clients a place to store and settle their digital assets within a secure environment operated by State Street.
Copper, a London-based provider of institutional digital asset custody and trading infrastructure, offers custody, trading, and settlement solutions across 450 crypto-assets and more than 40 exchanges.
The company is committed to providing flexible solutions for institutional investors that can adapt to the changing crypto asset space, while enabling far greater transparency and control for asset managers, Copper says.
Nadine Chakar, head of State Street Digital, comments: “State Street Digital’s mission continues to focus on putting the right tools in place so we can provide clients with solutions to support their traditional, as well as digital assets needs..”
Sabrina Wilson, newly appointed chief operating officer at Copper, says: “That State Street, one of the world’s largest custodians, is creating a new digital asset service is a hugely important development for institutional engagement in this new asset class. We are proud to be part of State Street’s goal to lead the way in the transformation of financial infrastructure.”
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