Swiss Metaco Supports in HSBC’s New Digital Assets Custody Serviceby Fintechnews Switzerland November 13, 2023
HSBC is set to introduce a new custody service for managing digital assets like tokenised securities, aimed at its institutional clients.
This service is expected to start in 2024 and will work alongside HSBC‘s existing digital platforms, including Orion for issuing digital assets and a recent programme for digital gold.
The bank is collaborating with Metaco, a Swiss-based provider of digital asset custody and tokenisation technology, to use its Harmonize platform, which will enhance the security and management of these digital asset services.
Zhu Kuang Lee, Chief Digital, Data and Innovation Officer, Securities Services, HSBC said,
“We’re seeing increasing demand for custody and fund administration of digital assets from asset managers and asset owners, as this market continues to evolve.
Through key partnerships, HSBC is delivering the next-generation custody infrastructure that will be scalable and secure. For asset servicers, there has never been a more important time to innovate, to collaborate and to create change.”
Adrien Treccani, CEO and Founder of Metaco said,
“Metaco is excited to be working with HSBC as it continues to explore the applications of DLT in asset creation and custody.
Custody infrastructure such as Metaco’s Harmonize, which integrates with financial institutions’ existing systems, will be critical to how issuers and investors interact, as capital markets and assets in general continue to be represented on distributed ledgers.”
This article first appeared on fintechnews.sg