State Street Digital to launch institutional-grade digital custody offering

State Street's (STT +4.3%) digital division will develop and launch, subject to receipt of regulatory and other approval, an institutional-grade digital custody offering where clients can store and settle their digital assets. State Street (NYSE:STT) Digital signed a licensing agreement with London-based Copper.co, a provider of institutional digital asset custody and trading infrastructure. "As institutional investors’ interest in digital assets continues to grow, we are building the financial infrastructure needed to support our clients’ allocations to this new asset class," said Nadine Chakar, head of State Street (STT) Digital. S&P Global's 2022 Global Credit Outlook pointed to growing interest in cryptocurrencies from institutional investors. Earlier on Wednesday, Biden's cryptocurrency policy seeks to keep U.S. in lead on technology