Multinational banking giant State Street has officially launched its new institutional digital asset platform. The move is aimed at helping corporate clients navigate the sector and launch a range of crypto products.
State Street stated that the platform aims to bridge traditional assets to crypto via tokenization. The firm plans to build tokenized money market funds, exchange-traded funds, and other products like tokenized deposits and stablecoins. The platform will provide institutions with tokenization services, digital asset custody, and access to a range of digital assets.
"By pairing blockchain connectivity with robust controls and global servicing expertise, we’re enabling institutions to confidently embrace tokenization as part of their core strategy," said Joerg Ambrosius, State Street’s president of investment services.
Tokenization has become a key focus for traditional finance companies as they push to experiment with blockchain. Proponents say the technology can improve liquidity. Crypto banking group Sygnum has tipped tokenization to hit the mainstream in 2026 on the back of clear regulations rolling out in the US.
State Street currently has $5.4 trillion worth of assets under management. The firm has been dipping its toes into the digital asset space for the past couple of years, with momentum growing significantly in 2025. In December, the firm teamed up with Galaxy Asset Management and Ondo Finance for a tokenized fund on Solana. The aim of that fund is to push cash sweep balance on blockchains to enable a 24/7 source of liquidity.
Other finance managers, such as Fidelity, Franklin Templeton, and JPMorgan, have also launched tokenized money-market funds. Many more traditional firms, including BlackRock, have also launched crypto-tied ETFs.
