The regulated blockchain infrastructure platform Paxos and State Street Corporation (NYSE:STT) launched a partnership on services integrations in May.
As part of a pilot, State Street simulated the settlement and custody of shares on Paxos’ platform and asset movements with Credit Suisse Group AG (NYSE:CS).
At its core, the development validates how blockchains can reduce steps and eliminate frictions in traditional finance. Benzinga spoke with STT’s head of Americas Digital Fund Administration and Tokenization Jay Biancamano to learn more.
