Metaco to power HSBC’s new digital asset custody service
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Metaco to power HSBC’s new digital asset custody service 08 November 2023UK Reporter: Bob Currie
Image: AdobeStock/William
HSBC has announced plans for the release of a new digital assets custody service using Metaco’s institutional client platform, Harmonize.
Due to go live in 2024, this new digital custody solution will complement the bank’s platform for digital asset issuance, HSBC Orion, and its recent solution that supports tokenised physical gold.
Considered together, these provide a full digital asset solution for HSBC institutional customers, says the Anglo-Asian bank.
Zhu Kuang Lee, chief digital, data and innovation officer for securities services, HSBC, says: “We are 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.”
Metaco CEO and founder Adrien Treccani comments: “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.”
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Image: AdobeStock/William 