According To Jay Biancamano, managing Director of digital products and innovation at State Street, in five years, digital assets will become part of any investment portfolio.
Biancamano stressed that the tokenization option will allow investors to add less liquid assets to their investment portfolios. This includes real estate, intellectual property, and non-traditional assets such as art.
“We are getting more and more calls from token companies that want to provide their assets to our clients. However, clients are often skeptical about such assets – they are not as convenient and easy to trade as they are used to,” said the top Manager of State Street.
Biancamano believes that the average investor’s portfolio will change significantly within five years. While stocks, commodities, and bonds are usually seen in the investment portfolio now, assets such as real estate, art, and intellectual property will play a significant role in the future.
“If you are at the forefront, you have to come up with new products and services,” Biancamano said.
At the end of last year, State Street, one of the largest institutional custodians in the world, said that it is in no hurry to create a service for storing cryptocurrency assets, as it does not see much demand for such a service from its customers.