State Street Bank and Trust Company

Investment bank · Boston, United States

State Street Bank and Trust Company is the banking arm of State Street Corporation, chartered in Massachusetts in 1792 and insured by the FDIC under certificate 14. It is a custodian rather than a business bank: at 30 June 2026 it held USD 57.9 trillion of assets under custody and administration and USD 6.3 trillion under management, against USD 418.4 billion of its own balance sheet. Its customers are asset managers, pension funds, insurers and sovereign funds, served from offices in more than twenty countries. The Financial Stability Board lists it as a globally systemically important bank, and in the second quarter of 2026 it announced tokenised fund servicing in Luxembourg.

Legal name: State Street Bank and Trust Company
Regulated by: Federal Reserve (state member bank and holding company), FDIC (deposit insurance, certificate 14), Massachusetts Division of Banks, Financial Stability Board (globally systemically important bank)
Licence confirmed: yes, on a regulator's own list
Established: 1792
Website: www.statestreet.com

Scores, 0 to 10

9.0Financial strength & stability

Globally systemically important bank with USD 418.4 billion of assets, standardized CET1 of 10.8% and Basel III advanced CET1 of 13.2% at 30 June 2026. · source

8.0United States

Massachusetts trust company charter, FDIC certificate 14, USD 412.6 billion of bank assets and USD 326.2 billion of deposits, but only three offices and institutional clients only. · source

7.0Europe (EU, EEA, Switzerland)

Offices in Ireland, Luxembourg, Germany, France, Italy, the Netherlands, Poland and Switzerland, and tokenised fund servicing announced in Luxembourg in the second quarter of 2026. · source

7.0Cross-border payments, FX and multi-currency accounts

Record client foreign exchange trading volumes, up 25% year on year in the second quarter of 2026, though the service is institutional trading rather than multi-currency accounts for companies. Custody and administration of USD 57.9 trillion with cash, foreign exchange, securities lending and financing under one relationship, aimed at asset owners rather than corporate treasuries. · source

6.5United Kingdom

A long-standing London presence serving institutional clients, but no UK business current accounts and no retail or SME banking. · source

6.5Asia-Pacific (SG, HK, AU, JP, KR)

Offices in Japan, China, Hong Kong, Taiwan, Singapore, Australia and India serve fund clients across the region. · source

6.0On-ramp: buy crypto with fiat

The bank already services crypto ETFs, hedge funds and asset managers holding digital assets and runs Stablecoin Reserve DDAs for several regulated stablecoin issuers, so it banks crypto firms, but it sells no crypto and publishes no policy on clients funding exchanges. · source

6.0Off-ramp: crypto to fiat in a business account

Serving crypto ETFs and stablecoin issuers means the bank handles cash moving out of crypto for institutional clients, but no source-of-funds process for ordinary business clients receiving exchange proceeds is published. · source

5.0Canada

A Canadian office is listed on the worldwide locations page, serving institutional investors rather than Canadian corporates. · source

5.0Latin America, Africa & South Asia

Brazil and India appear on the worldwide locations page, again for fund servicing rather than local business banking. · source

5.0Stablecoins (USDC, USDT and others)

State Street holds reserves for several regulated stablecoin issuers through its Stablecoin Reserve DDA, and its asset manager and Galaxy launched the SWEEP fund in May 2026 where qualified institutions park stablecoins for yield, but it offers no stablecoin accounts or payouts to business clients. · source

4.0Middle East & Gulf

Saudi Arabia is the only Gulf location on the worldwide locations page, and it serves institutional investors rather than local companies. · source

4.0Crypto-friendly bank

State Street services digital assets held inside client funds and announced tokenised fund servicing, but it publishes no onboarding path for crypto exchanges or brokers as banking clients. · source

4.0Fintech companies that need a partner bank

Software services revenue and annual recurring revenue grew about 14% through its Charles River platform, but no safeguarding accounts or rail access for payment institutions are published. · source

4.0Customer satisfaction

Trustpilot rates the statestreet.com profile 3.2 out of 5, which the site labels Average. · source

3.5Best interest on business balances

Deposits of USD 326.2 billion are institutional balances; State Street publishes no business deposit rate or treasury sweep product for companies. · source

3.5Crypto wallet and custody for a business

State Street launched a Digital Asset Platform with wallet management and custody for tokenised assets in January 2026, but native crypto custody through Taurus is still described as subject to regulatory approvals and the service is for institutional investors, not operating companies. · source

3.0Lowest fees

No price list is published for any service; custody, administration and trading fees are negotiated per mandate. · source

3.0Fast digital onboarding

There is no online application: institutional mandates are negotiated and the bank publishes no time to open an account. · source

3.0Foreign-owned & non-resident companies

Clients are institutions rather than companies with owners abroad, and State Street publishes no onboarding rules for foreign-owned operating companies. · source

3.0Bitcoin

State Street services single- and multi-coin crypto ETFs, which gives clients price exposure, but it does not yet custody or transfer bitcoin for clients, checked September 2026. · source

3.0Ethereum

Ether sits inside the crypto ETFs State Street services, and staking support is listed as being expanded, but no ether custody or transfers are live, checked September 2026. · source

2.5Trade, manufacturing & import-export

No letters of credit, guarantees or supply chain finance appear in the reported business lines, which are investment servicing, investment management and markets. · source

2.0Online businesses: e-commerce and SaaS

State Street serves institutional investors and offers no merchant account, acquiring or marketplace payout product. The Charles River software business sells investment management software to institutions; there is no banking product for software companies. · source

2.0High-risk verticals (iGaming, cannabis, adult, forex)

State Street has no business current accounts at all, so gambling, cannabis, adult and forex operators have no route in, and no policy on them is published. · source

1.5Startups & VC-backed companies

There is no startup, venture or SME programme; the client base is asset managers, asset owners and insurers. · source

1.5Business cards (Visa, Mastercard)

State Street issues no business debit or credit cards; its products are custody, administration, management and markets services. · source

1.0Accept crypto payments

State Street's digital asset pages cover custody, fund servicing, tokenisation and stablecoin reserve banking, with no merchant crypto acceptance, checked September 2026. · source

Sources

Built on public information and the BankStore team's own aggregated experience; no confidential client or partner data. Bank Index and BankStore are not banks. This is information, not financial advice.