State Street Digital Teams with Copper
Posted by Colin Lambert. Last updated: March 9, 2022
State Street’s digital assets division has entered into a licencing agreement with Copper.co, to leverage the latter’s technology to develop and, subject to receipt of regulatory and other approvals, launch an institutional grade digital custody offering where clients can store and settle their digital assets within a secure environment operated by State Street.
Copper currently offers custody, trading, and settlement solutions across 450 crypto-assets and more than 40 exchanges.
“As institutional investors’ interest in digital assets continues to grow, we are building the financial infrastructure needed to support our clients’ allocations to this new asset class,” says Nadine Chakar, head of State Street Digital. “State Street Digital’s mission continues to focus on putting the right tools in place so we can provide clients with solutions to support their traditional, as well as digital assets needs. Today’s exciting announcement will only enhance our ambition to deliver to our clients an amazing digital experience. We look forward to collaborating with the team at Copper as State Street Digital continues to grow.”
Sabrina Wilson, recently appointed COO of Copper, adds, “That State Street, one of the world’s largest custodians, is creating a new digital asset service is a hugely important development for institutional engagement in this new asset class. We are proud to be part of State Street’s goal to lead the way in the transformation of financial infrastructure.”