French Bank BNP Paribas is partnering with crypto infrastructure firm Metaco to custody crypto, CoinDesk reported today, citing three people with knowledge of the deal.
BNP Paribas Securities Services, the custodian subsidiary of the bank, holds over $12 trillion under custody. In recent months, the Swiss solutions providers has inked deals with multiple banks to develop digital asset custody platforms.
Citigroup partnered with Metaco to pilot and develop its digital asset custody platform last month. That deal has the bank exploring custody capabilities for tokenized securities, like blockchain-based stocks and bonds. More recently, French lender Societe Generale partnered with Metaco to work on its digital asset subsidiary, which will also primarily focus on security tokens.
© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
About Author
Aislinn Keely joined The Block in the summer of 2019. She is a member of the outlet’s policy team, holding down the legal beat. Before The Block, she lent her voice to the NPR affiliate WFUV, where she reported and anchored newscasts in addition to some podcast work. Aislinn is a proud Fordham Ram and editor-in-chief emerita of its newspaper. When she isn’t writing or reporting, Aislinn is running and rock climbing.
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