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State Street has decided to introduce the technology of Swiss financial technology company Taurus to provide Cryptocurrency custody and tokenization services, enabling State Street to hold clients' encryption assets and help them create tokenization assets, such as funds and other securities.
US regulation is still unfriendly, Daofu Bank focuses on RWA first
Dao Fu has always been one of the banks that quietly participate in the field of encryption. In 2021, it established a dedicated digital financial department and provided cash custody services for multiple Bitcoin ETFs. In June, it also announced a partnership with the encryption investment company Galaxy Digital to promote the creation of new digital asset ETFs.
According to CoinDesk, due to regulatory barriers in the United States, Deutsche Bank will initially focus on tokenizing traditional assets (RWA) and has chosen Taurus, a cryptocurrency custody and tokenization expert, to provide digital asset services, in order to create a more favorable regulatory environment in the United States.