State Street has launched a new Digital Asset Platform designed to provide the infrastructure for tokenised funds, cash instruments and other blockchain‑based products, marking one of its most significant steps yet into digital finance.
The US custodian said the platform would serve as a secure, scalable bridge between traditional and digital markets, supporting products such as tokenised money market funds, ETFs, tokenised assets, and cash instruments including tokenised deposits and stablecoins. It includes wallet management, custodial services and cash capabilities, and is built to operate across both private and public permissioned blockchain networks.
The move comes just days after rival BNY told Bloomberg it had begun piloting tokenised deposits, signalling a rapid acceleration in how the world’s largest custodians are preparing for blockchain‑based settlement and liquidity tools to enter mainstream market infrastructure.
Joerg Ambrosius, president of Investment Services at State Street, said the launch represented a shift from experimentation to real‑world deployment.
“This launch marks a significant step in State Street’s digital asset strategy,” he said. “We are moving beyond experimentation and into practical, scalable solutions that meet the highest standards of security and compliance. By pairing blockchain connectivity with robust controls and global servicing expertise, we’re enabling institutions to confidently embrace tokenization as part of their core strategy with an organisation like us that they can trust.”
The platform is integrated with State Street’s existing systems and incorporates enhanced security, operational controls and on‑chain compliance features. The bank said this would allow institutional clients to access digital asset capabilities through a seamless interface that connects traditional and blockchain‑based services.
Donna Milrod, State Street’s chief product officer, said clients were increasingly seeking infrastructure that could support digital assets at scale.
“Clients want trusted infrastructure that makes digital assets practical, not experimental,” she said. “This platform delivers that foundation in a way that is secure, interoperable and integrated so institutions can scale with confidence.”
She added that the platform was built on a partnership model intended to evolve with regulatory expectations and market needs, “reducing complexity while opening the door to innovation in a rapidly evolving digital financial landscape”.
State Street said the launch reflects its broader commitment to supporting clients as tokenisation and digital asset markets mature, drawing on expertise from across the bank and State Street Investment Management to deliver integrated solutions.
The firm, which oversees $51.7trn in assets under custody or administration, is among a growing cohort of global custodians positioning themselves to service tokenised instruments as institutional adoption gathers pace.
