State Street Bank chooses Taurus for cryptocurrency custody and tokenization

ChainCatcher news, State Street has chosen digital asset infrastructure provider Taurus to offer digital asset services. State Street stated that the bank's initial focus is on launching tokenized versions of traditional assets, and it will announce its first client soon.
State Street's Chief Product Officer and Head of Digital Asset Solutions, Donna Milrod, stated that the bank has been "very candid" about the need to amend SAB 121, which could force banks holding cryptocurrencies to maintain significant capital to offset risks.
Milrod said, "While we are starting with tokenization, this is not our endpoint; once U.S. regulations are helpful to us, we will also provide digital custody services."