State Street, the second oldest bank in the US, is actively seeking a leader to join its digital asset solutions team.
Despite its rich history dating back to 1792, State Street’s entry into the crypto space is relatively recent. While the bank has invested and partnered with others over the past few years to build its digital asset services, regulations remain an obstacle, slowing its ability to directly offer cryptocurrency storage and trading services.
In 2021, the bank entered the institutional cryptocurrency trading arena by partnering with interbank trading platform Pure Digital. The partnership involved State Street leveraging its expertise in foreign exchange technology to support Pure Digital’s platform.
State Street’s new leader will oversee the digital asset strategy
The bank on Friday announced a recruitment for the position of Head of Digital Asset Solutions. It is looking for an innovative thinker with comprehensive knowledge of digital asset technology and considerable institutional expertise.
The person in this position reports directly to the Chief Product Officer. He or she will work extensively with State Street’s top teams in product, technology, global delivery and sales. In addition, she will work closely with customers, partners and suppliers. This engagement ranges from brainstorming new offerings to delivering cutting-edge digital asset services.
The position requires knowledge of State Street’s business operations. This includes custody, accounting, transfer agency, payments and data services. An understanding of next-generation technology is also required.
Areas of specialization include distributed ledger technology, tokenization services, wallet technology, cryptocurrencies and artificial intelligence. In addition, the job announcement specifies experience in digital transformation and business change management.
The successful candidate will drive State Street Digital’s overall strategy. The position may be located in Boston or London.
Bank uses Lucca technology to manage Crypto funds
2021. State Street has partnered with Lucca, a crypto asset data and software company, to offer its individual clients fund administration services for crypto assets.
State Street said it will use Lucca’s suite of products, including a middle and back-office data management solution designed specifically for blockchain and cryptocurrency assets, along with Lucca reference data and Lucca Prime pricing data.
