London-headquartered HSBC is planning to launch custody services for digital assets, excluding cryptocurrencies, via a partnership with a Swiss firm.
HSBC is planning to launch custody services for non-crypto digital assets in 2024, in partnership with Metaco, according to a statement. The service will allow institutional clients to store tokenized forms of traditional financial assets, such as stocks or bonds.
In recent times, the banking industry has been increasingly active in exploring new opportunities within the blockchain industry, across both crypto and non-crypto assets. Last week, for example, HSBC had just launched an offering for clients to own tokenized ownership of physical gold held in its London vault.
Founded in 2015 in Switzerland, Ripple-owned Metaco is a solutions provider for digital asset infrastructure. It serves clients worldwide including custodians, banks, regulated exchanges and corporates.
