State Street announced a strategic agreement with Taurus to boost the bank’s Digital Asset Solutions unit, which seeks to provide an integrated business and operating model that supports the digital investment lifecycle.
“The collaboration with Taurus underscores our ongoing commitment to further establishing ourselves as leaders in this growing asset class, and this important announcement only enhances our ambition to deliver to our clients an amazing digital asset experience,” said Donna Milrod, State Street’s chief product officer and head of Digital Asset Solutions.
Taurus is a digital asset infrastructure provider that specializes in serving large financial institutions. State Street expects to use Taurus’ fully integrated, custody, tokenization and node-management solutions to automate the issuance and servicing of digital assets, including digital securities and fund management vehicles.
State Street will be leveraging three of Taurus’ products including, Taurus-PROTECT, Taurus-CAPITAL, which streamlines the process of creating and managing tokenized assets throughout their lifecycle, and Taurus-EXPLORER, which provides blockchain connectivity to dozens of different blockchain protocols.
“We are thrilled to have been chosen by State Street as a strategic partner for custody and tokenization and are excited about our collaboration and the opportunity to introduce innovative digital asset products and services to the industry,” said Lamine Brahimi, co-founder and managing partner of Taurus.