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Shares of State Street Corp. STT, +4.36% surged 5.3% in morning trading Wednesday, after the provider of banking and trust services announced a collaboration with U.K.-based Copper.co as it looks to launch an “institutional grade” digital custody offering. State Street said clients will be able to store and settle digital assets within a secure environment, as the bank assists its institutional clients to transition to and thrive in the digital economy.
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