State Street Works on Tokenized Bond and Money Market Fund; No ‘Current Plans’ for Stablecoin Project
State Street plans to tokenize bond and money market funds to increase efficiency and accessibility, as stated by Nadine Chakar an executive of the company. Despite these developments, State Street has no present intentions to develop a stablecoin, according to Chakar. Stablecoins are a sort of cryptocurrency tied to a traditional fiat currency like the US dollar.
