State Street partners with Lukka to bring crypto services to its private-fund clients

advertisement

State Street Corporation has unveiled plans to offer cryptocurrency and digital asset services to its private-fund clients. 

The financial services company announced Thursday that it has partnered with crypto data and software provider Lukka to provide clients with collection, reconciliation and processing services. 

This development marks State Street’s latest step towards advancing into the crypto ecosystem. On June 11, the company announced the formation of “State Street Digital,” a new business unit specifically dedicated to digital assets, tokenization and crypto assets. 

According to State Street’s executive vice president Nadine Chakar, who leads the unit, the enthusiasm around digital services, especially crypto, has increased substantially.  

“There's not a day that goes by that you don't see some large hedge fund or some large investor, you know, outlining their support for digital,” she said last week on The Scoop

In December 2020, Lukka completed its Series C funding round, which State Street led with participation from S&P Global and CPA.com. 

Related Reading

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

TRON USDC now available

Delivering on a vision for an interoperable global standard for dollar digital currency, Circle and TRON have partnered to make USD Coin (USDC) available on the TRON blockchain, which has grown to more than 56 million accounts and nearly 2.5 billion transactions since its founding just four years ago. TRON is home to a broad ecosystem for digital assets in Asia and around the world, and the TRON community can now benefit from easy access to the world's fastest-growing, regulated dollar digital currency. 
Read Full Story
Sponsored Post

Layer-1 Platforms: A Framework for Comparison

The Block Research was commissioned by Algorand to create Layer-1 Platforms: A Framework for comparison, which provides a “look under the hood” at seven platforms: Algorand, Avalanche, Binance Smart Chain, Cosmos, Ethereum/Ethereum 2.0, Polkadot, and Solana. We assess their technical design, related ecosystem data, and qualitative factors such as key ecosystem members to get an understanding of how they differ. Having done this analysis, we draw some insights for what the future of the broader smart contract landscape could look like for years to come. 
Read Full Story
Aug 11, 2021, 5:18PM UTC
More