HSBC announces custody service for blockchain assets

Systemically important major bank HSBC is expanding its blockchain asset offering. To do so, the bank is partnering with institutional custody solution Metaco.

The Hong Kong & Shanghai Banking Corporation (HSBC) is launching a custody service for digital assets.

It should be noted that the service is intended for the custody of tokenized blockchain securities and not cryptocurrencies such as Bitcoin (BTC). This announced the major London-based bank to.

The custody service will go live in 2024 and is intended to support the blockchain efforts of the world's eighth-largest bank. Indeed, HSBC had already launched Orion, a platform for issuing digital assets.

For the new blockchain service, Europe's largest bank is partnering with Swiss custody service Metaco.

In Hong Kong, the bank is one of the first companies to trade in enables crypto-ETFs.