ADVERTISEMENT

State Street Corporation to offer cryptocurrency services to their private-fund clients

State Street Corporation, in partnership with Lukka, will now be offering cryptocurrency services to its private-fund clients including cryptocurrency reporting, reconciliation and processing services.

ADVERTISEMENT
Image
Hannah Nightingale Washington DC
ADVERTISEMENT
ADVERTISEMENT

State Street Corporation, in partnership with Lukka, will now be offering cryptocurrency services to its private-fund clients including cryptocurrency reporting, reconciliation and processing services.

According to Bloomberg, the corporation will be partnering with the middle- and back-office crypto software provider Lukka for the fund-administration services.

Lukka will reportedly also be providing the corporation’s private-fund clients with data to support valuation services, Lukka spokesman Brian Brown told Bloomberg.

According to Bloomberg, "Boston-based State Street is one of the world’s largest custodians, with $42.6 trillion in assets either under custody or administration."

The announcement follows a growing trend of Wall Street companies experimenting with blockchain.

State Street reportedly created a new division last month called State Street Digital, led by Nadine Chakar, which looks to expand the corporation’s crypto services, amongst other digital services.

"The growth in popularity of digital assets is showing no signs of a slowdown and State Street Digital is committed to continuing to build out the necessary infrastructure to further develop our digital assets servicing models to help meet our clients’ growing demands," Chakar said in a statement.

ADVERTISEMENT
ADVERTISEMENT
N/A by N/A is licensed under N/A

Join and support independent free thinkers!

We’re independent and can’t be cancelled. The establishment media is increasingly dedicated to divisive cancel culture, corporate wokeism, and political correctness, all while covering up corruption from the corridors of power. The need for fact-based journalism and thoughtful analysis has never been greater. When you support The Post Millennial, you support freedom of the press at a time when it's under direct attack. Join the ranks of independent, free thinkers by supporting us today for as little as $1.

Support The Post Millennial

Remind me in September

We will use this to send you a single email in September 2020. To find out what personal data we collect and how we use it, please visit our Privacy Policy

ADVERTISEMENT
ADVERTISEMENT
By signing up you agree to our Terms of Use and Privacy Policy
ADVERTISEMENT
© 2022 The Post Millennial, Privacy Policy