State Street Currenex to Support Launch of Institutional Interbank Crypto Platform

Investment bank State Street is set to provide its trading technology infrastructure to startup institutional digital asset platform, Pure Digital, as it prepares to launch according to a story in The Trade news.   The Pure Digital platform uses a conglomerate of banks as liquidity providers, custodians, and clearers for execution of large trades with price granularity and transparency. It also offers pre-trade bilateral credit and multi/smart custody and buy-side firms can participate via existing prime broker and custodian relationships.  Trading will begin in mid-2021 and participants can opt for preferred digital asset custody solutions and manage risk through a smart custody routing mechanism.