ChainCatcher news, according to Coindesk, the UK compliant crypto exchange Archax has announced that it will offer tokenized money market funds supported by State Street, Fidelity International, and Legal & General Investment Management (LGIM).The first batch of tokenized assets will be issued on the Hedera Hashgraph, XRPL, and Arbitrum blockchains, and will represent asset ownership through tokenized rights held by customers. In the future, Archax also plans to add more types of fund products. It is worth mentioning that traditional financial giants such as BlackRock, Franklin Templeton, and Abrdn have also launched tokenized funds.Previous news, Archax has also acquired the Spanish brokerage firm King & Shaxson Capital Markets (KSCM), and the deal is pending approval from Spanish regulatory authorities.

ChainCatcher news, on the 20th, Hong Yixin, President and CEO of State Street Global Advisors, attended the International Financial Leaders Investment Summit and stated that this year the global stock market has recorded growth, inflation is slowing down, and central banks around the world are cutting interest rates. Therefore, looking ahead to 2025, the global economy is expected to continue its soft landing, and there is optimism about global economic growth.In addition, she expects that the profits of American technology companies will continue to rise. Although U.S. stocks are currently recording growth, there is still room for further increases in the future, so she is very optimistic about the U.S. stock market; she is also optimistic about European and emerging market stocks, as a weaker dollar is a favorable factor for emerging markets. At the same time, she anticipates that the Federal Reserve will cut interest rates again next month, but will lower its forecast for the number of rate cuts in 2025 to three times, with rates possibly dropping to 3.75% by the end of next year.

ChainCatcher news, according to CoinDesk, State Street's Chief Product Officer Donna Milrod stated in an interview with Financial News that the bank is working on the tokenization of bond and money market funds, but currently has no plans to create stablecoins or tokenized deposits. However, Milrod said, "That doesn't mean we won't do it in the future; we just feel that there is no need to do it right now." Milrod mentioned that State Street has two ongoing tokenization projects focused on the tokenization of bonds and money market funds, which the company aims to complete "sometime next year." The goal is to establish tokenized collateral that allows traders to use it as margin without having to liquidate their holdings to raise cash.Milrod stated, "Operational efficiency alone is not enough. It needs to have commercial value, and the industry is figuring out where that commercial value lies. Collateral tokens could help avoid or mitigate the 'liability-driven' crisis of 2022, when pension funds could use money market fund tokens to post margin instead of liquidating assets to raise cash."

According to ChainCatcher news, as reported by Businesswire, State Street Global Advisors, the asset management business of State Street Corporation, today announced the launch of three actively managed ETFs focused on digital assets and disruptive technologies, with consulting services provided by Galaxy Asset Management, a subsidiary of Galaxy Digital Holdings Ltd. and one of the largest digital asset and blockchain investment management firms in the world.The SPDR® Galaxy Digital Asset Ecosystem ETF (DECO), SPDR® Galaxy Hedged Digital Asset Ecosystem ETF (HECO), and SPDR® Galaxy Transformational Technology Accelerator ETF (TEKX) are designed to capitalize on market inefficiencies and trends in the rapidly changing digital environment through active management of digital asset exposure.

ChainCatcher news, State Street has chosen digital asset infrastructure provider Taurus to offer digital asset services. State Street stated that the bank's initial focus is on launching tokenized versions of traditional assets, and it will announce its first client soon.State Street's Chief Product Officer and Head of Digital Asset Solutions, Donna Milrod, stated that the bank has been "very candid" about the need to amend SAB 121, which could force banks holding cryptocurrencies to maintain significant capital to offset risks.Milrod said, "While we are starting with tokenization, this is not our endpoint; once U.S. regulations are helpful to us, we will also provide digital custody services."

ChainCatcher news, according to market news, asset management and banking giant State Street, with an asset management scale of $4 trillion, is exploring the creation of stablecoins and tokenized deposits to settle transfers on the blockchain.State Street is also considering participating in the "Digital Cash Alliance" and looking for settlement options through its invested fintech company Fnality International.

ChainCatcher news, according to businesswire, State Street Global Advisors and Galaxy Asset Management announced a collaboration to launch a new generation of digital asset investment strategies aimed at going beyond the cryptocurrency space and opening up new opportunities for investors.This collaboration will combine the strengths of two industry leaders to provide investors with manager-guided strategies that directly participate in the $2.4 trillion digital asset ecosystem.

ChainCatcher news, State Street Corp., headquartered in Boston, announced a restructuring of its digital asset team. Currently, its digital asset department has begun hiring, less than six months after layoffs in the department. It is reported that the bank plans to offer cryptocurrency custody services, a move that reflects State Street's increasing confidence in the digital asset market, as cryptocurrencies and tokenized assets become more integrated into the financial system.

ChainCatcher news, State Street's Anna Paglia plans to push ETFs into the U.S. 401(k) retirement system. State Street's Chief Business Officer Anna Paglia stated in an interview with Bloomberg Television that the bank is working closely with regulators, investors, and plan sponsors to overcome technical and regulatory barriers to allow ETFs into 401(k) plans. She believes that ETFs can play an important role in retirement portfolios, even though the current 401(k) system primarily relies on mutual funds. Paglia joined State Street in February of this year, previously serving as the global head of ETFs at Invesco. She firmly believes that the low cost and tax efficiency of ETFs are their advantages, even though capital gains taxes do not apply to 401(k)s, and intraday liquidity is not necessary in retirement accounts.

ChainCatcher news, State Street Global Advisors diverges from the increasingly hawkish consensus in the recent market, betting that the Federal Reserve will cut interest rates by 50 basis points as early as June.The institution, which manages $3.6 trillion in assets, believes that the Federal Reserve will lower rates before the November U.S. presidential election. By the end of this year, the company expects the Fed to have cut rates by a total of 150 basis points, which is 2.5 times the current market pricing.A series of strong U.S. economic data, including last Friday's better-than-expected U.S. non-farm payroll report, along with comments from hawkish officials suggesting that the Fed may not need to cut rates at all, have driven a repricing of market expectations for easing and pushed U.S. Treasury yields to a four-month high.However, State Street Global still maintains that the U.S. economy is not as strong as it appears on the surface, with indicators such as credit card default rates and small business credit costs suggesting that the economy may face a downturn later this year.

ChainCatcher news, according to Bloomberg, State Street Bank has recently restructured its digital assets division, with most employees being transferred to other departments of the company, resulting in some job cuts. Sources reveal that the number of positions eliminated is still unclear. By the end of 2023, the bank's digital assets division had about 100 full-time employees, most of whom have been reassigned to the bank's traditional asset servicing and technology operations departments.