State Street will support Lukka’s private fund clients with collection, standardisation, enrichment, reconciliation, processing and reporting related to crypto and other digital assets.
Lukka’s product suite includes a proprietary middle- and back-office data management solution, purpose-built for blockchain and crypto asset data, as well as reference data and prime pricing data solutions.
These solutions will assist State Street when consuming crypto assets that are merged within a private client’s traditional alternative investments portfolios.
The partnership follows the launch of State Street Digital, a division focused on addressing the industry’s evolving shift to digital finance.
Robert Materazzi, CEO of Lukka, commented: “State Street is leading the charge to usher in the next generation of fund administration. Large, traditional funds are rapidly looking to add crypto to their offerings, which leads them to ask their existing, trusted service providers such as State Street for fund administration.”
He added: “State Street was quick to recognise the importance of building capabilities to support crypto assets and we are proud to partner with them as funds quickly look to diversify their portfolios.”
Jen Tribush, alternatives lead for State Street Digital, said: “As our clients continue to adopt digital assets, such as crypto, we’ve seen increasing interest among investors for institutional quality middle- and back-office offerings that support diversified portfolios.”
She added: “Lukka was the ideal partner to help provide these services given their leading position in crypto asset data as State Street continues to add to our growing offering in the digital asset space.”
