State Street will create a department that will be responsible for the development of the bank in the field of digital assets, the sectordecentralized finance DeFi, as well as blockchain and tokenization.
One of the largest banks in the United States State Street, onwith over $ 40 trillion under management, announced the launch of a cryptocurrency division that will focus on central bank digital currencies (CBDCs), blockchain technology, tokenization and cryptocurrencies.
“We see digital assets as one of the most significant forces that will affect our industry over the next five years,” State Street said in a statement.
The company emphasized that its ownGlobalLink's technology platform will be converted to a digital platform and will support a variety of assets. In the future, it is planned to add support for cryptocurrencies.
June 10 Basel Committee on Banking Supervisionproposed to introduce strict rules for banks' work with cryptocurrencies. In particular, it is proposed to establish requirements for banks to have sufficient reserves that will cover possible losses from investments in bitcoin.
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