HSBC Partners with Metaco to Launch Digital Asset Custody Service in 2024
Summary:
HSBC is set to launch a new digital asset custody service in 2024. To facilitate this, the bank has teamed up with tech firm Metaco, integrating its platform Harmonize. This complements HSBC's existing digital services, forming a comprehensive digital asset offering for its institutional clients. The bank is also planning to launch a platform for tokenized securities.
In a strategic alliance with technology company Metaco, owned by Ripple, HSBC is integrating Harmonize, Metaco's institutional platform, with its latest digital asset custodial service, it was officially announced on November 8. The bank targets 2024 as the launch year of this new digital asset custodial service, which will supplement HSBC Orion, its digital asset issuance platform, and its service offering for tokenized physical gold that was rolled out on November 1, 2023. Collectively, these services constitute a comprehensive digital asset offering tailored for HSBC's institutional clientele, according to the company. HSBC is among the leading global banking entities contemplating the introduction of an institutional custody platform for tokenized securities, frequently referred to as security tokens. Continued updates will follow as more information unfolds about this ongoing story.
Published At
11/8/2023 10:38:42 AM
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