The partnership will incorporate the largest direct custody network in MENA, and comes one month after State Street announces its State Street Digital division led by Nadine Chakar
“We have been developing a number of digital capabilities and other solutions as well as partnering and investing in the infrastructure that forms the foundation of State Street Digital,” said Nadine Chakar. “State Street has a major role to play in the evolution of digital market infrastructure and this new division will help us bring our expertise and resources to the conversation. As digital currencies and tokenization not only gain momentum, but transform financial infrastructure and operating models, we can help our clients bridge the gap between the industry of today and the one of tomorrow.”
One can only ask if the new strategic partnership betwee UAE FAB Bank and State Street, will also include partnering on the digital asset services offering.