Major American financial services and bank holding company State Street Corporation is expanding its push into the cryptocurrency industry by launching new digital asset services. State Street, the second-oldest operating bank in the United States, announced Thursday that it would provide digital and crypto asset administration services for the company’s private funds clients. The bank will enable its private fund clients to access a set of institutional-grade middle- and back-office offerings that support diversified portfolios including crypto-related features like collection, standardization, reporting, processing and reconciliation. To unlock the services, State Street signed an agreement with Lukka, a U.S.-based blockchain data …

Bank of New York Mellon is joining a new cryptocurrency initiative by offering its custody support to a new crypto exchange backed by United States bank State Street. According to a Wednesday report by the Financial Times, BNY Mellon has joined a consortium of six banks behind the launch of London-based Pure Digital, a new crypto trading platform venture that is scheduled to execute its first Bitcoin (BTC) trade in the near future. The upcoming crypto venture came under the industry’s spotlight in April, with State Street announcing plans to provide its trading infrastructure to Pure Digital exchange through its …

State Street, the second-oldest operating bank in the United States, is moving into the cryptocurrency industry by agreeing to provide its technology for a new crypto trading platform. Currenex, a foreign exchange technology provider owned by State Street, has entered into an agreement with crypto firm Puremarkets to provide its trading infrastructure and tech for the new crypto trading platform Pure Digital. Announcing the news Thursday, Pure Digital said that it will also collaborate with State Street to further explore the digital currency trading industry. According to the announcement, Pure Digital will be a fully automated over-the-counter market for digital …