State Street Sets up New Division Dedicated to Digital Finance

State Street Corporation (State Street), one of the world’s largest servicers and managers of institutional assets, announced the launch of a new division, State Street Digital, which focuses on addressing the industry’s evolving shift to digital finance.

The new division will build on State Street’s current digital capabilities and will expand to include crypto, central bank digital currency, blockchain, and tokenization. The firm’s proprietary GlobalLink technology platform will be an integral component of State Street Digital. Moreover,  GlobalLink will be enhanced into a digital multi-asset platform, for the purpose of supporting crypto assets among other asset classes and supporting the State Street’s peer-to-peer ambitions by creating new liquidity venues for its clients and investors worldwide.

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State Street Digital will be led by Nadine Chakar, three-decade industry veteran and executive vice president. And he will report to Lou Maiuri, chief operating officer of State Street Corporation.

“We have been developing a number of digital capabilities and other solutions as well as partnering and investing in the infrastructure that forms the foundation of State Street Digital,” said Chakar. “State Street has a major role to play in the evolution of digital market infrastructure and this new division will help us bring our expertise and resources to the conversation. As digital currencies and tokenization not only gain momentum, but transform financial infrastructure and operating models, we can help our clients bridge the gap between the industry of today and the one of tomorrow.”