State Street to Offer Crypto Custody in Pact With Copper

State Street (STT) has entered a licensing agreement with Copper 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 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.

Read more: State Street Bank Launches Cryptocurrency Division