State Street Reorganizes Digital-Assets Unit With Some Job Cuts

State Street Corp. has reorganized its digital-assets division by shifting most employees to other parts of the company, resulting in some job losses, according to people familiar with the matter.

A handful of roles were eliminated, said the people, who asked not to be named discussing internal corporate matters. It’s unknown how many jobs were affected. State Street Digital had about 100 fully-dedicated staff at the end of 2023, and the majority of those roles have been moved into the bank’s traditional asset servicing and technology operations, the company said.

The centuries-old, Boston-based bank started the division in 2021, making ...