Besides cutting costs, the project aims to provide a standardized data repository for insurance analytics.
The blockchain-based clearing and settlement system from Australia's biggest stock exchange faces further delays if unhappy firms get their way.
The opportunity could be substantial for an already fast-growing crypto industry with a current market capitalization currently around $2.3 trillion.
A new paper from Microsoft and universities in Germany and Denmark sets out how blockchain technology could overcome issues with providing an international carbon credit market.
The majority of asset managers that bank with State Street are interested in digital assets, but none have asked the global custodian to store them yet.
