The segment covers its insurer, asset manager, pension fund, central bank and sovereign and wealth fund clients and has been outlined a strategic focus.
Standard Chartered’s global head of securities services believes the custodian has seen a need to begin exploring its own digital asset offerings.
The new business known as Fidelity Digital Assets will offer custody and trade execution of cryptocurrencies to institutional investors from 2019.
State Street believes it can increase its footprint in the wealth space following acquisition of front-office service provider Charles River.
The introduction of Japanese funds onto the FX settlement service follows a multi-year effort to onboard the Japanese buy-side community to CLSSettlement.
Private debt and alternative asset classes were cited by the buy-side as the most operationally costly to manage.