A new collaboration between financial services firm State Street Corporation (NYSE:STT) and the Winklevoss’ Gemini cryptocurrency exchange will launch a reporting pilot for cryptocurrency holdings under custody.
Per a press release published on Dec. 17, the two entities launched a new pilot that would combine Gemini Custody — the exchange’s custody wing — with State Street’s back-office reporting. The project enables users to consolidate the reporting of their digital assets processed by Gemini with their traditional assets serviced by State Street.