"State Street Said To Explore Creating Stablecoin, Deposit Token; The Asset Manager Is Looking At Crypto Settlements Options; Timeline For Implementation Has Not Been Set Yet" - Bloomberg News
Portfolio Pulse from Benzinga Newsdesk
State Street Corp. is exploring the creation of a stablecoin and deposit token for blockchain-based payment settlements. The timeline for implementation is not yet set.
July 17, 2024 | 4:30 pm
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State Street Corp. is exploring the creation of a stablecoin and deposit token for blockchain-based payment settlements. This move could position the company as a leader in blockchain technology within the financial services sector.
State Street's exploration into blockchain technology and stablecoins could enhance its service offerings and attract new clients interested in digital assets. This strategic move may positively impact the company's revenue and stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100