State Street Partners with Taurus to Expand Crypto Offerings for Institutional Investors: Report

State Street has partnered with Swiss cryptocurrency firm Taurus to offer custody services for cryptocurrency holdings and help create tokenized versions of traditional assets. The collaboration aims to provide support for asset management clients looking to tokenize their funds, although no specific launch date has been announced. State Street aims to become a custodian for crypto assets in addition to tokenization, a role typically undertaken by cryptocurrency exchanges or wallet providers. The bank is currently waiting for regulatory clarity on crypto custody accounting before moving forward in this area. The partnership comes as institutional interest in cryptocurrencies has increased this year.