State Street and Stablecoin Standard to educate tradFi firms on crypto

State Street Investment Management partnered with Stablecoin Standard to educate tradFi on crypto.

Major institutional players are increasingly focusing on stablecoins. On Tuesday, August 5, State Street, one of the world’s biggest asset managers with $4.67 trillion in assets under management, teamed up with Stablecoin Standard to educate industry players on crypto. This initiative will particularly focus on stablecoins and asset tokenization.

“We’re excited to offer our expertise to one of the largest traditional financial institutions with a global presence. This is a key milestone for us, as our goal has always been to bring in both leading crypto native and tradfi partners to establish robust standards around this nascent asset class,” Christian Walker, co-founder of Stablecoin Standard.

The two firms have entered into a formal partnership for a series of knowledge-sharing initiatives. The partnership will start with Stablecoin Standard’s annual flagship event in October in London.

“We look forward to hosting Stablecoin Standards’ Annual Flagship event at our Canary Wharf offices and welcome the opportunity to facilitate engagement and learning from some of the leading operators in the space,” said Kim Hochfeld, Global Head of Cash and Digital at State Street Global Advisors.

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The partnership is a response to increasing interest in stablecoins and tokenization among traditional financial institutions. Specifically, tradFi firms are exploring tokenization’s use cases in money market funds, bonds, and private credit.

According to recent research by Ripple and Boston Consulting Group, the tokenized real-world assets market is expected to grow from $0.6 trillion today to $18.9 trillion by 2033.