{"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

\"hsbc<\/p>\n

HSBC Seeks to Differentiate Itself from Traditional Cryptocurrencies<\/h2>\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

It is important to note that the digital asset custody platform<\/strong> will focus solely on tokenized securities, not cryptocurrencies like Bitcoin<\/a> or stablecoins like Tether.<\/strong><\/p>\n

Tokenized securities represent financial assets and are backed by real-world assets, setting them apart from pure cryptocurrencies.<\/p>\n

HSBC’s move into the custody of tokenized securities is not its first foray into the world of cryptocurrencies and blockchain technology.<\/p>\n

The banking leader recently announced successful testing of tokenized deposits in collaboration with the major Chinese financial services provider Ant Group.<\/strong><\/p>\n

The adoption of blockchain technology and digital assets continues to be a significant trend in the financial sector, and HSBC joins the list of financial institutions actively exploring opportunities in this ever-evolving space.<\/p>\n","protected":false},"excerpt":{"rendered":"

HSBC, one of the global banking giants, has revealed its plans to launch a digital asset custody platform focused on tokenized securities for its institutional clients. The banking institution has established a strategic partnership with the technology firm Metaco, owned by Ripple, to carry out this ambitious project.<\/p>\n","protected":false},"author":34,"featured_media":156212,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102,84,74],"tags":[9843,4805],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/156210"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=156210"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/156210\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/156212"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=156210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=156210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=156210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}