TechFlow News, according to Bloomberg citing sources familiar with the matter, State Street Bank is restructuring its digital assets division, State Street Digital. Some positions have been eliminated, and most employees have been transferred to the bank’s traditional asset servicing and technology operations divisions. It is unclear how many roles have been affected.
State Street Digital was established by State Street Bank in early June 2021, focusing on areas such as cryptocurrencies, central bank digital currencies, blockchain, and DeFi. As of the end of 2023, State Street Digital had approximately 100 full-time employees, and its cryptocurrency custody service is still awaiting regulatory approval.
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