As the digital asset space continues to mature, we are developing solutions to service, create and safeguard digital assets. Our vision is to deliver core digital asset infrastructure and drive growth as a trusted provider of secure, interoperable, end-to-end blockchain solutions.

We aim to offer an integrated platform that spans both digital and traditional assets, supported by a comprehensive range of services:

Fund administration and accounting

We provide administration services for asset management clients with digital assets in their portfolios. This enables managers to track and account for digital assets alongside traditional assets. We maintain established relationships with data providers to support asset managers who purchase digital assets across a variety of digital exchanges.

Connectivity to an expanding list of venues and emerging product types is a key focus of our roadmap as we continue to enhance our offerings.

Our solution supports multiple asset classes across various jurisdictions. We are currently servicing providers that hold digital assets in their portfolios, including hedge funds, asset owners and asset managers, as well as single- and multi-coin crypto asset ETFs in the United States. We also support ETF/ETP structures in Canada, Europe and Asia Pacific.

We are actively expanding our servicing capabilities to support crypto asset staking and institutional decentralized finance (DeFi) activity.

Tokenization as a service for both assets and fund structures

To progress our digital strategy efforts, we have chosen Taurus as a key collaborator for custody and tokenization. Taurus is an industry-recognized digital asset infrastructure provider that specializes in serving large financial institutions. Subject to receipt of applicable regulatory approvals, we will adopt Taurus’ fully integrated custody, tokenization and node-management solutions to automate the issuance and servicing of digital assets — including digital securities and fund management vehicles — in accordance with institutional standards.

State Street will be implementing three of Taurus’ flagship products: Taurus-PROTECT, which provides hot, warm and cold storage for digital assets, including custody, staking and asset servicing, Taurus-CAPITAL — which streamlines the process of creating and managing tokenized assets throughout their lifecycle — and Taurus-EXPLORER, which provides blockchain connectivity to dozens of different blockchain protocols. The collaboration underscores our ongoing commitment to further establishing ourselves as leaders in this growing asset class and enhances our ambition to deliver an exceptional digital asset experience to our clients.

Digital custody and legislative momentum

In July 2025, the US House of Representatives passed the CLARITY Act and GENIUS Act — two transformative bills that will accelerate digital asset innovation and business scalability. We’re excited by these developments and the momentum they bring to our industry.

Through proactive collaboration with regulators and industry stakeholders, we are working to interpret and embed their requirements. Our custody solutions are being purposefully engineered to ensure compliance, enhance security and align with these evolving standards — positioning us to lead with innovation as the regulatory landscape and markets continue to evolve.

Digital cash

We support the issuance of regulated stablecoins for several clients through our Stablecoin Reserve DDA, which provides dedicated cash banking infrastructure for managing reserve funds.

We are also advancing our work on tokenized deposits, regulated stablecoins and broader digital asset models to offer clients faster, more flexible ways to move and manage cash across both traditional and digital ecosystems.

Additionally, we are a founding member of Fnality International, a wholesale payment solutions group delivering a digital cash asset backed by central bank deposits. Our collaboration with Fnality and central banks on CBDC initiatives is helping modernize institutional payment infrastructure.