The largest custodian bank is less interested in cryptocurrency than in digital assets; will provide solutions when clients are ready

State Street, one of the largest asset management companies and the largest custodian bank in the world, is seeing a high level of interest in digital assets but there is no sense of urgency from clients yet. Speaking at a conference on Thursday, Jay Biancamano, State Street’s managing director of Digital Product Development and Innovation, said: “none of our clients are looking for us to house these assets in custody.”

Biancamano continued: “We do talk to our clients who are interested in doing this and we are looking at this very closely. But we are not putting a sign that we are opening for business. That said, we are a blockchain-friendly firm; we are very involved in the vertical.” State Street is less interested in housing cryptocurrencies than in tokenization and digitalization of traditional assets. Biancamano said that when clients move that way, State Street will follow. (Source: CoinDesk)

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The largest custodian bank is less interested in cryptocurrency than in digital assets; will provide solutions when clients are ready written by Larry Cermak @ https://www.theblockcrypto.com/tiny/the-largest-custodian-bank-is-less-interested-in-cryptocurrency-than-in-digital-assets-will-provide-solutions-when-clients-are-ready/ December 2, 2018 Larry Cermak

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