State Street creates digital finance unit to support crypto assets

State Street Corp. has created a division that will focus on digital finance, expanding the company’s current digital capabilities to include crypto, central bank digital currency, blockchain and tokenization, the company said in a release.

“The objective is to evolve the platform into a multi-asset platform to support crypto assets among other asset classes. The aim also will be to support our peer-to-peer ambitions by creating new liquidity venues for our clients and investors worldwide,” CEO Ron O’Hanley said in a statement.

The division, State Street Digital, will be led by Nadine Chakar, who currently heads global markets. She joined State Street in 2019 after heading operations and data management at Manulife Investment Management and eight years in various executive capacities at BNY Mellon.

Tony Bisegna, currently global head of portfolio solutions, FX sales and trading, and research for State Street, will become head of global markets effective Sept. 1.