{"id":156210,"date":"2023-11-08T13:23:04","date_gmt":"2023-11-08T13:23:04","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=156210"},"modified":"2023-11-08T13:23:08","modified_gmt":"2023-11-08T13:23:08","slug":"hsbc-works-with-metaco-on-a-digital-asset-custody-platform","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/hsbc-works-with-metaco-on-a-digital-asset-custody-platform\/","title":{"rendered":"HSBC Works With Metaco on a Digital Asset Custody Platform"},"content":{"rendered":"
HSBC<\/strong>, one of the global banking giants, has revealed its plans<\/a> to launch a digital asset custody platform focused on tokenized securities<\/strong> for its institutional clients. The banking institution has established a strategic partnership<\/strong> with<\/strong> the technology firm Metaco, owned by Ripple<\/a><\/strong>, to carry out this ambitious project.<\/p>\n Metaco is renowned for its expertise in digital asset custody solutions, and its involvement in this project is expected to enhance HSBC’s value proposition.<\/p>\n The platform is scheduled for launch in 2024<\/strong>, and it complements their recent developments in the digital asset space.<\/p>\n One of these developments is HSBC Orion, a platform that facilitates the issuance of digital assets.<\/p>\n Additionally, the banking institution recently launched an offering focused on tokenized physical gold on November 1, 2023.<\/strong><\/p>\n These services will combine to provide a comprehensive digital asset offering for the bank’s institutional clients.<\/p>\n John O’Neill, HSBC’s Global Head of Digital Assets Strategy, emphasized that these initiatives reinforce the company’s commitment to the development of digital asset markets.<\/strong><\/p>\n The drive behind the platform is partly due to the increasing demand for custody and fund administration services for digital assets from asset managers and asset owners.<\/p>\n Zhu Kuang Lee, HSBC’s Head of Digital, Data, and Innovation, emphasized that this market is continually evolving and stressed the importance of innovation at this moment.<\/p>\n<\/p>\n
HSBC Seeks to Differentiate Itself from Traditional Cryptocurrencies<\/h2>\n