Editors note (April 8, 14:20 UTC): An earlier version of this article overstated State Streets involvement in the project, based on phone conversations with a spokesperson for the bank and with the CEO of its partner company. State Street later clarified it is evaluating trading on the new platform, but has not committed to doing so.
State Street, the second-oldest bank in the U.S. with $3.1 trillion in assets under management, is providing the infrastructure for a new bank-grade trading platform for digital assets set to go live mid-year and could eventually use the system for trading itself.
Announced Thursday, State Streets Currenex trading technology arm is working with London-based Pure Digital, infrastructure provider to the foreign exchange trading world, to create an institution-focused digital currency trading platform.
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The two companies said they plan to further explore the digital currency trading space.