Techub News reports that State Street is launching a series of tokenization products. The bank will develop tokenized money market funds, exchange-traded funds (ETFs), as well as cash products such as tokenized deposits and stablecoins. Joerg Ambrosius, President of Investment Services at State Street, stated that the launch of the digital asset platform is an "important step" in State Street's strategy. Currently, State Street oversees $51.7 trillion in assets and has previously provided management and accounting services for crypto ETFs. In December last year, it also partnered with Galaxy Digital to create a tokenized fund, and it will consider offering custody services in the future depending on regulatory developments.