State Street is creating a dedicated cryptocurrency division


State Street Financial Center building, which houses the company’s headquarters, in Boston, Massachusetts.

Brent Lewin | Bloomberg | Getty Images

State Street is creating a division dedicated to digital finance, which will comprise cryptocurrency, central bank digital currency, blockchain technology and tokenization, it announced Thursday morning.

State Street Digital will be integrated with its proprietary electronic trading platform, which the bank plans to develop into one that can support crypto assets as well as other asset classes.

“We see digital assets as one of the most significant forces impacting our industry over the next five years,” the company’s chairman and CEO Ron O’Hanley…


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