Bloomberg: State Street exploring creation of stablecoins and deposit tokens
U.S. financial services giant State Street Bank is exploring ways to participate in blockchain payment settlement as the company explores creating its own stable-coin and is considering creating its own deposit token, according to Bloomberg, citing people familiar with the matter. In addition, State Street is looking at new settlement methods by investing in blockchain payments startup finality. State Street is understood to need approval from the US banking regulator to launch the deposit token. State Street is one of the world's largest asset managers, with more than $4 trillion under management.
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