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State Street Eyes Blockchain Leap With Stablecoin, Deposit Token: Report — TradingView News
State Street has shown serious interest in blockchain settlement technology, a report says. The global asset manager has been slow to move into the cryptocurrency space, but it could soon make a big leap forward.
An anonymous Bloomberg source said that State Street is considering creating its own stablecoin and deposit token. It could also leverage its investment in British payment startup Fnality to create new settlement options and join the “digital money consortium efforts.”
Enterprise Stablecoins and Deposit Tokens Have a Solid Precedent
State Street isn’t breaking new ground in blockchain regulation. JPMorgan launched its Onyx blockchain and stablecoin, JPM Coin, in 2020. Goldman Sachs began trading digitized bonds on the chain the following year. JPMorgan introduced a tokenization platform called the Tokenized Collateral Network in 2023 and added a programmable payments feature months later.