01:00 PM EDT, 07/17/2024 (MT Newswires) -- State Street (STT) is exploring ways to get into settling payments on blockchain, Bloomberg reported Wednesday, citing a person familiar with the matter.

The company is looking into creating its own stablecoin, which is a blockchain-powered cryptocurrency tied to an asset such as the US dollar, Bloomberg reported.

Bloomberg also reported that State Street considering settlement options through its investment in Fnality, a blockchain payment startup.

State Street did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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