• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
State Street Cryptoccurrencies Bitcoin BTC Ethereum
Nexo Logo

Will the U.S. second oldest bank State Street start trading crypto?

Reynaldo Marquez by Reynaldo Marquez
1 year ago
in Company News, Cryptocurrency news
Reading Time: 2 mins read
Advertisement

According to a press release, one of the most important banks in the U.S. State Street will partner with start-up Puremarkets. The cooperation will enable State Street’s Currenex, a “high performance” trading technology provider, to work with the start-up on a crypto trading platform.

In parallel, the partners might explore “the digital currency trading space”. With over $3.15 trillion in assets under management and $38 assets under custody, State Street is one of the largest banks revealing participation in the crypto industry.

The trading platform called Pure Digital will be, according to the press release, automated with a “high throughput OTC market”. Also, it will support trading with cryptocurrencies, like Bitcoin and Ethereum, with digital assets, such as USDT.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Pure Digital users will be able to leverage bilateral credit to gain “efficient capital utilization and control”. In that way, the partners will contribute to strengthen the crypto market for “price discovery” and lower the “risk” when trading with the asset class.

Crypto trading platform under evaluation

The platform is expected to be launch around Q2, 2021. In addition to the above, the platform will have a “smart custody routing mechanism”. This will allow users to trade under their “prefer asset custody solution”.

To reduce costs for all traders, Pure Digital will integrate FX-industry standard API, according to the release. Users looking to acquire long positions will have the option of trading with their “existing Prime Bank/Custodial relationships and infrastructure”. Campbell Adams, Founder of Pure Digital said:

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Pure Digital is pleased to explore the digital asset space with State Street as we share the same vision for the future of the digital currency market.

On the other hand, Pure Digital CEO Lauren Kiley expressed excitement about the partnership and for the opportunity to work with Currenex. Kiley made emphasis on their objective, “transpose” FX infrastructure over to the crypto sector along with a consortium led by the banking institution.

Global Head of Execution Services for GlobalLink, State Street Global Markets David Newns added:

Currenex is thrilled to leverage our experience and expertise in the FX and digital asset trading marketplace to provide Pure Digital with robust technology and infrastructure for this exciting digital currency trading initiative.

However, per a Coindesk’ report, a State Street spokesperson said the bank is “evaluating trading on the platform”. The banking institution is yet to commit to actually carry out operations in cryptocurrencies.

At the time of writing, Bitcoin is trading at $57.709 with gains of 3.4% in the daily chart.

State Street Bitcoin BTC BTCUSD
BTC showing bullish momentum in the 24-hour chart. Source: BTCUSD Tradingview
Tags: bitcoinbtcETHethereumethusd
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Reynaldo Marquez

Reynaldo Marquez

Related Posts

5 Up-and-Coming DOGE Projects that Might be Worth Your Money

5 Up-and-Coming DOGE Projects that Might be Worth Your Money

2 hours ago
Bitcoin Rejects Downside At $29k, Here’s Why This Is Good

Bitcoin Rejects Downside At $29k, Here’s Why This Is Good

4 hours ago
Investors May Expect Downside For Bitcoin And Ethereum Market For The Next 3 Months

Investors May Expect Downside For Bitcoin And Ethereum Market For The Next 3 Months

7 hours ago
Bitcoin

Bitcoin Price Could Fall To $8,000, Says Guggenheim CIO

9 hours ago
Ethereum Uniswap UNI UNIUSDT

How Ethereum’s Uniswap Reached A Milestone Of $1 Trillion In Trading Volume

12 hours ago
bitcoin, ethereum

Bitcoin, Ethereum Exchange Inflows Suggest Sell-Offs Are Far From Over

13 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

LBank Exchange Will List Globiance Exchange Token (GBEX) on May 25, 2022

May 25, 2022

LBank and Adanian Labs Powers Hackathons, Blockchain Education, and Ecosystem Development for Africa

May 25, 2022

Cornucopias: A Revolutionary Cardano Blockchain Project that is Redefining the Gaming Metaverse Industry

May 25, 2022

Caduceus Set Record for BitKeep LaunchPad with 1286% Oversubscribed

May 25, 2022

Fireblocks Adds Support for TRON DAO’s TRX and all TRC20 Tokens

May 25, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.