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Seeking Alpha
2021-04-08 12:07:57

State Street and Pure Digital to create digital currency trading platform

State Street's (STT) Currenex trading technology arm is teaming up with London-based Pure Digital, an infrastructure provider to the foreign exchange trading sector, to develop an institution-focused digital currency trading platform.State Street said it's intending to use the platform for its own crypto trading. Pure Digital told CoinDesk that it's looking at launching the platform in 2021, though no date is set.State Street becomes the latest big bank to lend credence to cryptocurrency. Trust rival Bank of New York Mellon announced in February plans to custody bitcoin for clients and has invested in Fireblocks, a from that provides crypto infrastructure to banks and fintechs.Goldman Sachs and Morgan Stanley also recently announced offering access to digital assets for some of its clients.The Currenex/Pure Digital partnership plans to transform the forex infrastructure for crypto use through a bank-led group with a platform that includes forex-industry standard APIs and best execution, Lauren Kiley, CEO

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