State Street Corp. explores blockchain settlements, stablecoin, and deposit token for operational benefits.

State Street Corp. is exploring ways to settle payments on blockchain, considering creating its own stablecoin and deposit token. The financial services and banking giant is evaluating joining digital-cash consortium efforts and exploring settlement options through its investment in Fnality, a blockchain payment startup. State Street's moves aim to gain operational benefits such as increased efficiency, faster and around-the-clock settlements, and lower administrative costs.

July 17, 2024
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