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State Street stands up new crypto unit as it eyes potential custody, DeFi products
State Street wants to send a message to Wall Street: the custodial banking firm is serious about digital assets. To that end, it's built up an entirely new business unit dedicated to digital assets, tokenization, and cryptocurrency assets. Announced Thursday, the new unit — dubbed State Street Digital — will be led by Nadine Chakar, an executive Vice President at the firm. "It's a real sign of commitment from our CEO," Chakar said, referring to Ron O'Hanley, who in a statement said that digital assets are becoming an important part of the broader financial services industry. "The objective is to evolve the ... (full story)