Cryptocurrencies
‘You Can Tokenize a Building’ in State Street’s New Digital Push
- $40 trillion global asset administrator sets up digital unit
- Results from ‘intensity’ of client requests, says Chakar
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State Street Corp., one of the world’s largest money managers, is moving hundreds of its staff into a new digital unit to meet surging interest in everything from cryptocurrencies to transforming investments as traditional as real estate.
“This technology is revolutionary and it will change the world,” said Nadine Chakar, the newly appointed head of State Street Digital, in an interview Friday. Blockchain “has been a solution looking for a problem for years now -- but what you’re starting to see is it’s getting real. There’s real-use cases,” she said.