State Street is working on a new blockchain project aimed at cataloging transactions tied to investment assets.
The Boston-based investment services firm is partnering with California-based blockchain startup PeerNova on the project. The prototype being developed will track funds used in investment transactions.
The firm suggested in statements that the trial could ultimately lead to a future product line focused on the tracking of assets using the technology.
Hu Liang, senior vice president for State Street’s Emerging Technology Center, said of the project:
The announcement marks State Street’s most notable initiative related to blockchain to date.
State Street did not immediately respond to a request for comment.
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