State Street to look after bitcoin, just don’t call it custody

The second-biggest custodian will provide “record-keeping services” for the unregulated asset

State Street bitcoin
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State Street Corp, the custody arm of the banking group, is searching for asset managers that want it to look after their holdings of bitcoin and other cryptocurrencies.

The world’s second-largest custody bank will announce later this year that it is offering safekeeping for digital assets in the US and Europe, says Swen Werner, State Street’s global product manager for digital products and innovation. But he is adamant that the bank will not hold the cryptocurrencies under custody.

“We do not

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