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Crypto Custody? State Street Is Waiting on a Client Shift, Exec Says

Published 12/02/2018, 06:00 AM
Updated 12/02/2018, 06:15 AM
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State Street (NYSE:STT), one the largest institutional custodians on the planet, said there is no sense of urgency – at the moment, at least – from clients for the firm to move into safeguarding crypto assets.

Speaking at the American Banker BlockFS conference in New York on Thursday, Jay Biancamano, State Street's managing director for digital product development and innovation, acknowledged there is “a high level of interest”, however.

“There is no sense of urgency on the part of our clients to move into these assets right now. When they do, we want to meet them there,” said Biancamano.

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