State Street Ends Pact With Crypto Custody Firm Copper

State Street Corp. said it has ended a licensing agreement with crypto custody firm Copper.co, citing a shifting regulatory environment for digital assets as well as evolving requirements for servicing the asset class.

The bank will continue to build a custody solution for both tokenized securities and native tokens, a spokesperson said.

State Street last March entered a licensing agreement with Copper to use the startup’s technology to develop a digital-asset custody product. State Street, Bank of New York Mellon, and Nasdaq are among the traditional financial institutions that have announced plans to enter crypto custody.

State Street’s ...