Taurus Tapped by State Street for Digital Assets Infrastructure

State Street says it has selected digital assets infrastructure provider Taurus to deliver the digital assets capabilities planned by the bank, which remains subject to regulatory approval.

The bank says the agreement comes at a time when institutional interest is digital assets is “at an all-time high”, and will further enhance its Digital Asset Solutions business, which seeks to provide an integrated business and operating model that supports the digital investment lifecycle.

Subject to receipt of applicable regulatory approvals, State Street will leverage Taurus’ integrated, custody, tokenisation and node-management solutions to automate the issuance and servicing of digital assets, including digital securities and fund management vehicles, in accordance with applicable institutional standards.

Specifically, the bank will be leveraging three of Taurus’ products including, Taurus-Protect, Taurus-Capital, which streamlines the process of creating and managing tokenised assets throughout their lifecycle, and Taurus-Explorer, which provides blockchain connectivity to dozens of different blockchain protocols.

“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,” claims Donna Milrod, State Street’s chief product officer and head of Digital Asset Solutions. “We are excited to be working with Taurus as we continue to elevate our digital asset capabilities and deliver the innovative solutions our clients have been seeking.”