State Street and Gemini Launch Digital Asset Pilot
The first of its kind, this pilot performs reporting scenarios on a user’s holdings within Gemini Custody. Initially, the pilot reports holdings of two cryptocurrencies chosen for liquidity reasons. However, it can be adapted to report on holdings of other digital assets, such as security tokens. It allows the user to consolidate the reporting of their digital assets serviced by Gemini, an independent digital asset custodian, with their traditional assets serviced by State Street.
“We want to evolve our business with our clients’ needs. The digital asset space is still nascent, yet it promises opportunities that could fundamentally impact how we do things in the future,” said
“Given State Street’s leadership position in asset servicing, this project felt like a natural extension of those services as we continue to explore and evaluate opportunities to provide innovative solutions to our clients.”
"Working with State Street is a major milestone for Gemini and digital assets as a mainstream asset class. With trillions of dollars in assets under management, State Street will never compromise on security — and neither will we," said
* Assets under management include the assets of the SPDR® Gold ETF and the SPDR® Long Dollar Gold Trust ETF (approximately
About Gemini Trust Company
Gemini Trust Company, LLC (Gemini) is a cryptocurrency exchange and custodian that allows customers to buy, sell, and store cryptocurrencies like bitcoin, bitcoin cash, ether, litecoin, and zcash. Gemini is a
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