BlockBeats news, on October 9, according to CoinDesk, State Street Chief Product Officer Donna Milrod said in an interview with Financial News that the bank is working on tokenizing bonds and money market funds, but has not yet created a stable Coins or tokenized deposit plans. However, Milrod said: “It doesn’t mean we won’t do it in the future, it just doesn’t feel necessary to do it now.” Milrod said the company has two ongoing tokenization projects, focusing on integrating bonds and money markets. The fund will be tokenized, which will take the company “part of next year” to complete. The goal is to create tokenized collateral that traders can use as margin without having to liquidate their holdings to cash out.
Milrod said: “Operational efficiency alone is not enough. It needs to have business value, and the industry is figuring out where the business value is.” Milrod added that collateralized tokens may help avoid or mitigate the “liability-driven crisis” in 2022. ” crisis, when pension funds could use money market fund tokens for margin calls instead of liquidating assets to raise cash.