Three Trillion Dollar Company Enters Crypto Space

Three Trillion Dollar Company Enters Crypto Space

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US-based financial giant State Street aims to enter the crypto trading space in the middle of this year.

Currenex, the trading platform on which State Street reportedly went on sale last year, has partnered with London-based Puremarkets Ltd (Pure Digital) to develop a wholesale, highly protected digital currency trading platform, puremarkets announced today. The statement also said the partners plan to further explore the digital currency trading area.

"Pure Digital will be a fully automated, highly efficient [over-the-counter] Sunday for digital assets and cryptocurrencies, with physical delivery and bank surveillance," the company said in a statement."they were used. According to the statement, corporate participants will trade on the platform using dual credit, which provides efficient capital use and control for all trading participants.

A statement by Norway's digital asset-focused company Arcane Crypto said::

"The Pure Digital Trading Platform will be the first of its kind and will offer a wholesale interbank Sunday for Tier 1 investment banks to buy and sell Bitcoin and other digital assets. Pure Digital is in talks with several other Tier 1 investment banks to use the platform, which will provide a highly efficient OTC market with physical delivery and bank oversight for digital assets and cryptocurrencies."

At the end of 2020, State Street had $ 3.47 trillion in assets under management. However, the company's revenue fell 4 percent to $ 2.9 billion and its net income fell 5 percent to $ 537 million.

Ron O'hanley, President and CEO of State Street, said in a statement:

"We are confident in the way our business is going and will continue to drive innovation, automation and productivity to achieve these goals."

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