Custody giant State Street announced Thursday the launch of its new Digital Asset Platform designed to support the development and servicing of tokenized financial products, including tokenized money market funds, ETFs, deposits, stablecoins, and other digital assets.

Built with enhanced security, compliance, and interoperability, the platform provides wallet management, custody, and cash capabilities across private and public permissioned blockchains, aiming to bridge traditional and digital finance for institutional clients.

Joerg Ambrosius, president of Investment Services at State Street, said in a statement that the platform enables institutions to move beyond experimentation and deploy tokenized products at scale.

“We are moving beyond experimentation and into practical, scalable solutions that meet the highest standards of security and compliance,” Ambrosius stated. “By pairing blockchain connectivity with robust controls and global servicing expertise, we’re enabling institutions to confidently embrace tokenization as part of their core strategy with an organization like us that they can trust.”

According to State Street’s product chief Donna Milrod, clients are looking for trusted systems that can operationalize digital assets in a practical way, and the new platform is designed to meet that demand at an institutional scale.

The launch underscores the firm’s commitment to making digital assets practical and compliant, while supporting the growing demand for tokenized financial products across global markets.

“This platform is built on a client partnership model that ensures ongoing evolution in line with market needs and regulatory expectations, reduces complexity while opening the door to innovation in a rapidly evolving digital financial landscape,” Milrod highlighted.

The Boston-based firm has spent the last several years aggressively scaling its digital asset strategy, leveraging strategic alliances with key industry players like Taurus and Galaxy Digital to expand its digital asset capabilities. Last August, it successfully executed its first blockchain-based commercial paper transaction using JPMorgan’s Digital Debt Service.

State Street may also explore offering custody services later, further deepening its role in the tokenized asset space.