HSBC taps Metaco for tokenized securities platform
Legacy bank HSBC announced its latest blockchain endeavor in partnership with a Ripple-owned firm to service institutional clients with demand for real-world assets (RWA) hosted on-chain. According to a Nov. 8 statement, HSBC plans to launch a digital asset custody service for tokenized financial instruments sometime in 2024. Metaco, a Swiss firm specializing in safeguarding crypto assets, was named HSBC’s partner for its new product. Ripple acquired Metaco for $250 million in May 2023. The bank said the offering would complete a 360-degree platform along with its digital asset issuance service and its product which tokenizes physical gold, allowing eligible investors greater access to RWAs and traditional investment vehicles housed on blockchain networks. 1/3 @HSBC announced that it is working with @metaco_sa as it plans to launch a new digital assets custody service for institutional clients who invest in tokenised securities . To learn more: https://t.co/aI6IiaEvhu cc @M...