State Street's Blockchain Strategy: Big and Bold for 2017
State Street is on the verge of putting a significant amount of its workflow on a blockchain. The financial corporation with $2tn in assets under management is now testing 10 early stage blockchain tools that could help automate everything from internal operations to transactions between business and consortia-level multiple-party deals. Thus far, the bank has divided its efforts into three categories, each of which is being built largely independently of the others, bank officials said. But as more and more applications become production-ready, their various functionalities will....
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State Street Corp., a global financial holding company, has completed a 7-month blockchain test to streamline the securities lending process which it is considering deploying in 2017, Hu Liang, senior managing director of the Emerging Technologies Center at State Street, told Reuters. State Street is among several financial institutions to test blockchain technology and to consider deploying it in the near term. Blockchain Improves Lending. The blockchain system State Street has tested would transform the collateral posted by an investor to borrow securities from State Street’s clients....
Amagi Metals recently made headlines with news the company would focus their attention on only accepting cryptocurrencies as a form of payment for their products. This effectively means that they'll no longer be saving U. S. dollars, though they've noted customers who still wish to buy precious metals with the dollar are welcome to do so, but it will be instantly converted to digital currency. It's a bold strategy, bit it's not slated to kick in until 2017 begins. I had a few questions for the company on the topic, and I thought I'd share them here with you. My first question, plain and....
On Thursday, the Boston-based financial services and bank holding company State Street Corporation announced the launch of a division dedicated to cryptocurrencies, the digital economy, and decentralized finance (defi). State Street Invokes New Division Dedicated to Crypto, Blockchain, and Defi The financial services company State Street (NYSE: STT) offers a wide array of products like Investment management, securities lending, stock trading, and custodial banking services. In Q3 2020, data shows that State Street has around $3.15 trillion assets under management (AUM). On June 10, the....
Investment management firm State Street says that institutional clients are not deterred from investing in crypto assets despite price declines. “There is a belief that the asset class is here to stay,” a State Street executive said. State Street on Institutional Demand for Crypto State Street, a leading investment management firm, sees unwaning institutional demand for cryptocurrency despite market sell-offs, the Sydney Morning Herald reported Monday. Irfan Ahmad, State Street Digital’s product lead for the Asia-Pacific region, said the banking giant’s....
Financial services giant State Street is touting the blockchain experience of its newly appointed executive vice president and global CIO. In a press announcement yesterday, State Street revealed Antoine Shagoury, the former CIO of the London Stock Exchange Group (LSEG), would join the investment management services firm, making a point to highlight Shagoury's advocacy for blockchain technology while at LSEG. In interview, global head of enterprise data Chris Perretta framed his firm's interest in the blockchain, as well as new employees who embrace innovation, as a key part of its broader....