State Street Advances Tokenization Efforts Amid Banking Sector Shift to Onchain Assets

According to Bloomberg, State Street is strengthening its blockchain tokenization initiatives as banks increasingly move cash and funds onto blockchain networks.

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Terms & Concepts
  • Tokenization: The process of converting real-world assets, such as cash or funds, into blockchain-based digital tokens for faster and more transparent transactions.
  • Onchain: A term referring to operations or assets recorded directly on a blockchain ledger, ensuring traceability and immutability.
  • Blockchain: A decentralized digital ledger technology used to securely record transactions across multiple computers.