{"id":221885,"date":"2021-04-08T15:53:35","date_gmt":"2021-04-08T12:53:35","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/state-street-to-provide-tech-for-institutional-bitcoin-trading-platform\/"},"modified":"2021-04-08T15:53:35","modified_gmt":"2021-04-08T12:53:35","slug":"state-street-to-provide-tech-for-institutional-bitcoin-trading-platform","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/state-street-to-provide-tech-for-institutional-bitcoin-trading-platform\/","title":{"rendered":"# State Street to provide tech for institutional Bitcoin trading platform"},"content":{"rendered":"<p>&#8220;<strong># State Street to provide tech for institutional Bitcoin trading platform <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvMTczYWUwMWMtOWJmNC00N2Y4LTk1ZWItNTFlODdiNTViZDU3LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>State Street, the second-oldest operating bank in the United States, is moving into the cryptocurrency industry by agreeing to provide its <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> for a new crypto trading platform.<\/p>\n<p>Currenex, a forex technology provider owned by State Street, has entered into an agreement with crypto firm Puremarkets to provide its trading infrastructure and tech for the new crypto trading platform Pure Digital. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/pressat.co.uk\/releases\/puremarkets-ltd-announces-launch-of-digital-asset-trading-platform-and-selects-state-streets-currenex-as-technology-provider-e7ff1065c5f4f19f38278a86139e151a\/\">Announcing<\/a> the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> Thursday, Pure Digital said that it will also collaborate with State Street to further explore the digital currency trading industry.<\/p>\n<p>According to the announcement, Pure Digital will be a fully automated over-the-counter market for digital assets and cryptocurrencies with physical delivery and bank custody. Scheduled for launch in mid-2021, the new platform will reportedly allow institutional investors to trade using bilateral credit and multiple custody solutions. \u201cTrading participants will be free to leverage their preferred digital asset custody solutions and manage risk through a smart custody routing mechanism,\u201d the announcement notes.<\/p>\n<p>State Street <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.statestreet.com\/ideas\/articles\/the-role-of-cryptocurrencies.html\">announced<\/a> in late March that the bank has been exploring the role of Bitcoin (BTC) in multi-asset portfolios over the last nine years. \u201cThe case has yet to be made for Bitcoin as an equity hedge, though it may be heading in that direction. The key for investors is to combine their preferences for risk mitigation and upside potential with Bitcoin\u2019s expected diversification and return properties to determine their optimal allocation,\u201d the bank wrote.<\/p>\n<p>State Street has been actively exploring the cryptocurrency industry in recent years. In late 2019, the bank <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/newsroom.statestreet.com\/press-releases\/press-release-details\/2019\/State-Street-and-Gemini-Launch-Digital-Asset-Pilot\/default.aspx\">announced<\/a> a digital asset pilot in collaboration with Gemini Trust Company. The pilot built on the research and development in the digital asset space to combine Gemini Custody with State Street\u2019s back-office reporting.<\/p>\n<p>Earlier this year, Bank of New York Mellon\u00a0announced plans to hold, transfer and issue Bitcoin and other crypto as an asset manager on behalf of its clients.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/state-street-to-provide-tech-for-institutional-bitcoin-trading-platform\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# State Street to provide tech for institutional Bitcoin trading platform &#8221; State Street, the second-oldest operating bank in the United States, is moving into the cryptocurrency industry by agreeing to provide its technology for a new crypto trading platform. Currenex, a forex technology provider owned by State Street, has entered into an agreement with&#8230;<\/p>\n","protected":false},"author":1,"featured_media":221886,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvMTczYWUwMWMtOWJmNC00N2Y4LTk1ZWItNTFlODdiNTViZDU3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74863,74860,81979,101293,74355,71939,117,67874],"class_list":["post-221885","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-otc","tag-state-street","tag-adoption","tag-banks","tag-business","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/221885","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=221885"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/221885\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/221886"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=221885"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=221885"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=221885"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}