State Street is to provide digital and cryptocurrency asset fund administration capabilities for the firm’s private funds clients in partnership with Lukka, a crypto asset data and software provider. State Street will support its private fund clients with collection, standardisation, enrichment, reconciliation, processing and reporting related to crypto and other digital assets. The partnership comes after Lukka’s Series C funding round in 2020, which was led by State Street.
State Street will leverage Lukka’s product suite, which includes a proprietary middle and back office data management solution, purpose-built for blockchain and crypto asset data, as well as Lukka Reference Data and Lukka Prime Pricing Data. This will enable State Street to administer crypto assets that are commingled within a private client’s traditional alternative investments portfolios.