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State Street, the second-oldest bank in the United States, is currently seeking a leader for its digital assets solutions team.
Although its history dates back to 1792, State Street’s foray into the cryptocurrency sector is relatively new. In recent years, the bank has made investments and formed partnerships to develop its digital asset services, but regulatory challenges continue to impede its capacity to provide direct crypto custody and trading services.
In 2021, the bank entered the institutional crypto trading market by collaborating with the interbank trading platform Pure Digital. This alliance involved State Street leveraging its expertise in foreign exchange technology to enhance Pure Digital’s platform.
State Street’s New Leader Will Oversee Digital Asset Strategy
On Friday, the bank announced a vacancy for a Head of Digital Asset Solutions. It is looking for a creative thinker with extensive knowledge of digital asset technology and significant institutional experience.
This position reports directly to the chief product officer and will require extensive collaboration with State Street’s leading teams in product, technology, global delivery, and sales. Furthermore, the individual will work closely with clients, partners, and vendors, engaging in everything from conceptualizing new offerings to providing advanced digital asset services.
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The role requires an understanding of State Street’s business functions, including custody, accounting, transfer agency, payments, and data services. Additionally, a grasp of next-generation technologies is essential.
Expertise in areas such as distributed ledger technologies, tokenization services, wallet technology, cryptocurrencies, and AI is required. The job listing also highlights the need for a background in digital transformation and business change management.
The selected candidate will be instrumental in shaping the overall strategy for State Street Digital. The position can be located in either Boston or London.
Bank Leverages Lukka’s Tech for Crypto Fund Management
In 2021, State Street partnered with Lukka, a company specializing in crypto asset data and software, to provide fund administration services for crypto assets to its private fund clients.
State Street indicated that it would utilize Lukka’s range of products, including its middle and back office data management solution specifically tailored for blockchain and crypto assets, along with Lukka Reference Data and Lukka Prime Pricing Data.
The post Veteran US Bank State Street Opens Search for Digital Assets Head appeared first on Cryptonews.
