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Wednesday, April 21, 2021

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Home Tech Crypto State Street to provide tech for institutional Bitcoin trading platform

State Street to provide tech for institutional Bitcoin trading platform

Document Analysis NLP IA

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neutral
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objective
redaction

Subjectivity0.36114718614719
probably it's an affirmation
Affirmation0.45714285714286

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Summary (IA Generated)

State Street, the second-oldest operating bank in the United States, is moving into the cryptocurrency industry by agreeing to provide its technology for a new crypto trading platform.

Currenex, a forex technology provider owned by State Street, has entered into an agreement with crypto firm Puremarkets to provide its trading infrastructure and tech for the new crypto trading platform Pure Digital.

Announcing the news Thursday, Pure Digital said that it will also collaborate with State Street to further explore the digital currency trading industry.

State Street announced in late March that the bank has been exploring the role of Bitcoin (BTC) in multi-asset portfolios over the last nine years.

The pilot built on the research and development in the digital asset space to combine Gemini Custody with State Street’s back-office reporting.


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